eResearch Technology, Priceline.com: After-Hours Trading (Update 1)

Updated from 4:50 p.m. ET to include latest share prices, additional information on Sina.com.

NEW YORK ( TheStreet) -- Shares of eResearch Technology ( ERES) surged in late trades on Monday after the Philadelphia-based medical technology company delivered strong fiscal fourth-quarter earnings with revenue rising on both a year-over-year and sequential basis.

eResearch Technology posted a non-GAAP profit of $6.9 million, or 14 cents a share, for the three months ended Dec. 31 on revenue of $52.3 million. The average estimate of analysts polled by Thomson Reuters was for earnings of 10 cents a share on revenue of $47.5 million.

The company said new bookings totaled $303.5 million at the end of the year, up from $212.5 million at the same time last year.



The stock was last quoted at $6.55, up 17.8%, on volume of more than 65,000, according to Nasdaq.com. Based on Monday's regular-session close at $5.56, the shares were down nearly 9% over the past year, bottoming out at a 52-week low of $3.86 on Nov. 23.

"This is the first quarter our bookings have ever exceeded $80 million and it marks the fourth consecutive quarter of more than $70 million in bookings," said Dr. Jeffrey Litwin, the company's president and CEO, in a statement. "Bookings growth was driven by sustained strength in both our cardiac safety and respiratory solutions. Our continued growth shows that our message, outlining the benefits of centralization, along with the ability to purchase high quality cardiac safety, respiratory and ePRO services from one vendor is resonating with our clients."

For the current first quarter, eResearch Technology sees non-GAAP earnings of 8 to 11 cents a share on revenue ranging from $46 million to $49 million vs. Wall Street's current consensus view for a profit of 10 cents a share on revenue of $44.7 million.

For the whole of 2012, the company forecast non-GAAP earnings of 45 to 53 cents a share on revenue of $195 million to $203 million vs. the average analysts' view for earnings of 46 cents a share on revenue of $195.2 million.

The sell side was bullish ahead of the report with 5 of 7 analysts covering the shares at either strong buy (3) or buy (2) and the 12-month median price target at $7.50, implying potential upside of 35% from Monday's close. The stock's forward price-to-earning multiple is at 12.1X vs. 13.1X for the S&P 500.

Check out TheStreet's quote page for eResearch Technology for year-to-date share performance, analyst ratings, earnings estimates and much more.

Priceline.com

Shares of Priceline.com ( PCLN) rose nearly 5% in the extended session after the online travel booking services provider blew away Wall Street's expectations for its fiscal fourth-quarter results.

The Norwalk, Conn.-based company reported non-GAAP earnings of $276.8 million, or $5.37 a share, on revenue of $991 million for the three months ended Dec. 31, well ahead of the average estimate of analysts polled by Thomson Reuters for a profit of $5.05 a share on revenue of $967.9 million.

"The Priceline Group experienced a strong 4th quarter for our travel reservation services," said Jeffery Boyd, the company's president and CEO, in a statement. "Globally, the Group grew room night reservations by 53% as compared to 47% in the 3rd quarter. We believe that each of our brands, Booking.com, Agoda and priceline.com, gained share in the retail hotel room reservations market, while our Name Your Own Price hotel business in the United States continued to be impacted by increased competition in the discount market."

The stock was last quoted at $630.41, up 6.6%, on volume of nearly 500,000, according to Nasdaq.com. Based on Monday's close at $591.54, the shares were up 30% in the past year with the majority of that stemming from a 26% year-to-date advance. The stock hit a new intraday 52-week of $597 during the regular session.

For its fiscal first quarter ending in March, Priceline.com sees non-GAAP earnings of $3.80 to $3.90 a share with revenue expected to increase between 22% and 27% from year-ago levels. The current consensus view is for a profit of $3.72 a share in the quarter.

Check out TheStreet's quote page for Priceline.com for year-to-date share performance, analyst ratings, earnings estimates and much more.

Sina.com

Shares of SINA Corp. ( SINA) lost ground in after-hours action after the China-based online media company reported an in-line profit for its fiscal fourth quarter but revenue of $128,7 million came in just shy of Wall Street's view of $129.3 million.

The stock was last quoted at $60.48, down 4%, on volume of almost 600,000, according to Nasdaq.com.

SINA said its gross margin dipped to 54% in the latest quarter from 58% last year with declines in margins for both its advertising and mobile valued-added services businesses.

For the first quarter, SINA forecast revenue of $101 million to $104 million with advertising revenue seen coming in between $78 million and $80 million.

Also attracting buying interest after the bell was Zagg Inc. ( ZAGG), a maker of cases and accessories of iPhones, iPads, iPods, and other mobile devices.

The stock was last quoted at $10.92, up 8.6%, on volume of nearly 300,000 after the Salt Lake City-based company reported a fiscal fourth-quarter non-GAAP earnings of $8.6 million, 27 cents a share on revenue of $67.5 million, more than double its total in the same period a year ago. The performance topped Wall Street's expectation for earnings of 20 cents a share on revenue of $64 million.

For 2012, Zagg forecast adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) of $55 million to $60 million on revenue of more than $250 million.

-- Written by Michael Baron in New York.

>To contact the writer of this article, click here: Michael Baron.
Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.

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