Updated to add Exelixis, Casey's General Stores.

NEW YORK ( TheStreet) -- Urban Outfitters ( URBN - Get Report) was getting hit hard in extended trades on Monday after the Philadelphia-based specialty retailer's fourth-quarter earnings fell short of Wall Street's expectations.

The company, whose brands include Anthropologie and Free People in addition to its namesake stores, posted a profit of $75.2 million, or 45 cents a share, on sales of $668.4 million for the three months ended Jan. 31. In the same period a year earlier, it earned $77.7 million, or 45 cents a share, on sales of $588.5 million. The average estimate of analysts polled by Thomson Reuters was for earnings of 52 cents a share in the latest quarter on sales of $676.3 million.

The stock was last quoted at $33.33, down 12.2%, on volume of nearly 1.4 million, according to Nasdaq.com. Based on a regular session close at $37.99, the shares were up roughly 10% in the past year, a move that reflects a rise of more than 30% since scraping a 52-week low of $29.03 on Oct. 21.

Urban Outfitters said comparable retail segment net sales, which includes its direct-to-consumer operations, rose 4% in the quarter; although same-store sales dipped 2%. The company also noted a decline of 208 basis points in gross margins during the quarter, and cited increased markdowns to clear seasonal inventory and higher shipping costs stemming from a boost in international direct sales as the culprits.

The 13% earnings shortfall in the latest quarter broke a streak of seven straight quarters of beating the average analysts' estimate for Urban Outfitters, which at current levels trades at a forward price-to-earnings multiple of 19.5X based on next year's consensus profit view of $1.95 a share.

Wall Street was modestly bullish on the stock ahead of the report with 15 of the 28 analysts covering the shares at either strong buy (9) or buy (6). The median 12-month price target sits at $40.


Shares of Broadsoft ( BSFT) leapt in after-hours action after the Gaithersburg, Md.-based maker of networking software reported strong earnings and revenue growth for its fiscal fourth quarter. The stock was last quoted at $41.01, up 17.5%, on volume of nearly 160,000, according to Nasdaq.com.

For the three months ended Dec. 31, Broadsoft posted a non-GAAP profit of $12.2 million, or 44 cents a share, up significantly from both its year-ago comparable profit of $1 million, or 7 cents a share, and earnings of $2.2 million, or 8 cents a share in the September period.

Revenue totaled $35.8 million, up 85% year-over-year and 61% on a sequential basis.

"In the fourth quarter, we achieved a 64% sequential increase in license revenue while growing our deferred revenue balance by $5.0 million quarter over quarter," said Jim Tholen, the company's chief financial officer, in a statement.

Tholen added: "Moreover, our margins reached the highest levels in company history, with gross margins expanding for the third quarter in a row, to 86% on a non-GAAP basis and 85% on a GAAP basis, while our income from operations as a percent of total revenue rose to 36% on a non-GAAP basis, and 34% on a GAAP basis, in the fourth quarter."

Based on a regular session close at $34.90, Broadsoft shares were up 16% in the past year, hitting a 52-week high of $41.96 on Feb. 18.

For fiscal 2011, Broadsoft forecast non-GAAP earnings of 56 to 66 cents a share on revenue ranging from $116 million to $120 million. Revenue totaled $95.6 million in fiscal 2010. The company sees a non-GAAP profit of 4 to 11 cents a share in the current first quarter on revenue of $27 million to $29 million.


Shares of biotech Exelixis ( EXEL - Get Report) fell in late trades on news of a dilutive stock sale.

The stock was off 5% to $10.78 on volume of around 70,000 after San Francisco-based Exelixis said it plans to sell 12.5 million common shares in its proposed public offering.

The company had roughly 109.3 million outstanding shares as of Dec. 31. The deal also includes an overallotment option for the potential sale of an additional 1.875 million common shares, so the dilution for existing shareholders could be even greater.

Casey's General Stores

An earnings shortfall pulled shares of Casey's General Stores ( CASY - Get Report) lower after Monday's closing bell. The Ankeny, Iowa-based convenience store operator reported a profit of $12.9 million, or 34 cents a share, on revenue of $1.37 billion for the three months ended Jan. 31, down from year-ago equivalent earnings of $17.2 million on revenue of $1.11 billion.

Excluding certain one-time expenses, the company said it earned 37 cents a share in the January period, well below the average estimate of analysts polled by Thomson Reuters for a profit of 50 cents a share.

Casey's General said its profit was held back by "compressed margins due to a competitive cigarette environment, rising commodity costs and increased operating expenses related to store openings."

The stock lost 6% to $38.10 in late trades on volume of less than 30,000. Based on a regular session close at $40.55, the shares had gained almost 29% in the past year, although their 52-week high of $44.68 came back in mid-September. Of the seven analysts covering the stock, four were at strong buy and three were at hold ahead of the report.

-- Written by Michael Baron in New York.

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