Philips-Van Heusen: After-Hours Trading

Updated from 5:40 p.m. ET to include information on American Superconductor, Cheniere Energy, and Inergy, and latest prices.

NEW YORK ( TheStreet) -- Shares of Philips-Van Heusen ( PVH) enjoyed mild gains in late trades on Tuesday after the New York-based fashion company reported above-consensus quarterly results.

The New York-based company, whose brands include Calvin Klein and Tommy Hilfiger, posted a non-GAAP profit of $89.6 million, or $1.23 a share, for its fiscal first quarter ended on May 1 with revenue totaling $1.37 billion. In the same period a year earlier, Philips-Van Heusen reported equivalent earnings of $44.8 million, or 83 cents a share, on revenue of $619 million.

The average estimate of analysts polled by Thomson Reuters was for a profit of $1.16 a share on revenue of $1.34 billion in the three-month period.

The stock was last quoted at $67.40, up 2.2%, on volume of more than 200,000, according to Nasdaq.com. Based on a regular session close at $65.97, the shares were up 5.7% so far in 2011. Over the past year, the stock has risen 22% but it's down 9% since hitting a 52-week high of $72.42 on Dec. 3.

"We are very pleased with our first quarter results," said Emanuel Chirico, the company's chairman and CEO, in a statement. "The positive business trends in our Tommy Hilfiger and Calvin Klein businesses accelerated in the first quarter, allowing us to exceed both our revenue and non-GAAP earnings guidance."

The company said total revenue from its Calvin Klein business rose 17% in the quarter to $281.1 million, while its Tommy Hilfiger unit generated revenue of $715.4 million as it experienced much better than anticipated growth in both Europe and North America.

Philips-Van Heusen said it expects non-GAAP earnings of 93 to 95 cents a share in the second quarter, and $4.80 to $5 a share for the full year. The current consensus estimates are for earnings of 91 cents a share, and $4.90 a share, respectively.

Wall Street was bullish on the stock ahead of the report with 10 of the 13 analysts covering the stock at either strong buy (5) or buy (5), and the 12-month median price target sitting at $76.50.

Lions Gate Entertainment

Lions Gate Entertainment ( LGF) got a lift in the extended session after the company said it turned a profit in its fiscal fourth quarter amid strong revenue from its digital, international and cable video-on-demand categories.

The company also said it was boosted in the latest quarter by lower theatrical promotional and advertising expenses, and an increase in equity interest income from the Epix cable channel, a joint venture with Viacom ( VIA.B) and Metro-Goldwyn Mayer.

Lions Gate said it earned $46.1 million, or 33 cents a share, on revenue of $377 million in the three months ended March 31, up from a year-ago loss of $22.3 million, or 19 cents a share, on revenue of $401.6 million.

The stock was last quoted at $6.05, up 2%, on volume of less than 25,000, according to Nasdaq.com. Lions Gate shares were down almost 9% so far in 2011 based on a regular session close at $5.93.

ARMOUR Residential

News of a dilutive stock offering weighed on shares of ARMOUR Residential ( ARR) in late trades on Tuesday with the stock slumping 4.3% to $7.31 on volume of more than 730,000.

After the closing bell, the Vero Beach, Fla.-based real estate investment trust, which invests in residential mortgage-backed securities, said it's launched the sale of 16 million common shares. The deal also includes an overallotment option for the sale of an additional 2 million common shares.

The stock is down 1.5% so far in 2011, and it has limited coverage on Wall Street. Only three analysts cover the shares with the ratings split evenly between strong buy, buy and hold.

American Superconductor

Shares of American Superconductor ( AMSC) pulled back after the Devens, Mass.-based energy technology company delayed its financial results, and said it expects to reverse recognition of a "material" amount of revenue following a review of shipments sent to customers in China in the second, third and fourth quarters of fiscal 2010.

The company also said it's cut 10% of its workforce since March 31, and that it's initiated a hiring freeze and reduced travel and discretionary spending in an effort to better align its cost structure with near-term revenue.

The stock was last quoted at $10.12, down 5.3%, on volume of around 74,000, according to Nasdaq.com. Based on a regular session close at $10.69, the shares have already fallen almost 65% since the start of 2011.

Two other stocks sold off late after the companies announced stock sale plans. Cheniere Energy ( LNG) said it's selling up to 10 million shares in its offering, while Inergy L.P. ( NRGY) is offering up to 10.35 million common units.

Cheniere shares lost 9.5% to $10.60 with volume reaching more than 400,000, while Inergy shares dipped 3.3% to $35.85 on volume of nearly 43,000.

-- Written by Michael Baron in New York.

>To contact the writer of this article, click here: Michael Baron.

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Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.

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