
Adobe, LaserCard: After-Hours Trading
NEW YORK (
) -- Shares of
Adobe Systems
(ADBE) - Get Report
surged in extended trading on Monday after the graphics design and publishing software maker topped Wall Street expectations with its fiscal fourth-quarter results.
After the closing bell, San Jose, Calif.-based Adobe
reported adjusted earnings of $285.7 million, or 56 cents a share, for the three months ended Dec. 3
, up from a year-ago equivalent profit of $206.8 million, or 39 cents a share, and ahead of the average estimate of analysts polled by
Thomson Reuters
for earnings of 56 cents a share in the December period.
Revenue came in at $1.01 billion for the quarter, an increase of 33% from last year and above the company's projected range of $950 million to $1 billion. The consensus view was for revenue of $988.1 million.
Adobe shares closed Monday's regular session at $29.18, up 1.4%, ahead of the report. At that level, the stock was down about 22% year-to-date. The shares were last quoted at $30.68, up 5.2%, on volume of more than 2 million in late trades, according to
Nasdaq.com
.
LaserCard
An acquisition deal was sending
LaserCard
( LCRD) shares through the roof after Monday's closing bell. The Mountain View, Calif.-based maker of secure ID cards has agreed to an $80 million buyout by Sweden's Assa Abloy AB. The transaction values LaserCard shares at $6.25 each, a premium of 38% to Friday's close.
In late trades, the stock was changing hands at $6.20, up 39.3%, although volume was light at around 10,000. Based on Monday's regular session close at $4.45, the shares were down about 22% year-to-date.
LaserCard said the deal was structured as a cash tender offer and that it expects the acquisition to close during its fiscal fourth quarter ending in April.
Jabil Circuit
Shares of
Jabil Circuit
(JBL) - Get Report
tacked on 4% to $18.10 on volume of nearly 400,000 in late trades after the St. Petersburg, Fla.-based electronics contract manufacturer beat analyst expectations for its fiscal first-quarter results.
The company posted core earnings of $132.1 million, or 61 cents a share, for the three months ended Nov. 30, up from a year-ago equivalent profit of $68.3 million, or 32 cents a share, and ahead of the average estimate of analysts polled by
Thomson Reuters
for earnings of 54 cents a share.
Revenue totaled $4.08 billion for the quarter, beating Wall Street's consensus estimate of $3.96 billion.
"We believe our focus on diversification and a differentiated business model will allow us to continue growth throughout 2011," said Timothy Main, the company's president and CEO. "We see good momentum in our three business segments as we continue on a record setting pace for fiscal 2011."
Jabil also gave a strong forecast for its fiscal second quarter ending in February, saying it expects core earnings of 49 to 53 cents a share on revenue ranging from $3.85 billion to $3.95 billion. The average analysts' view for the period currently sits at earnings of 44 cents a share on revenue of $3.7 billion.
2010 has been a wash for Jabil shareholders. The stock was up less than 1% at its regular session close of $17.66.
Darden Restaurants
A marginal decline in sales at its Red Lobster locations held back
Darden Restaurants
(DRI) - Get Report
in its latest quarter, sending the shares lower in late trades.
The Orlando, Fla.-based company, whose other concepts include Olive Garden and LongHorn Steakhouse, posted an in-line profit from continuing operations of $75.8 million, or 54 cents a share, for the three months ended Nov. 28. Total sales came in at $1.726 billion, just shy of the average estimate of analysts polled by
Thomson Reuters
for sales of $1.728 billion.
Overall, same-store sales rose 1.4% for the quarter but the breakdown was Olive Garden up 2%, LongHorn up 6.8%, and Red Lobster down 1.6%. Total sales at Red Lobster fell 1.1% year-over-year to $556 million.
Darden also declared a quarterly dividend of 32 cents a share, payable on Feb. 1 to shareholders of record on Jan. 10, and said its board has approved the buyback of an additional 25 million common shares, bringing its current authorization to 29.3 million shares, or roughly 21% of its outstanding stock at the end of the quarter.
The stock was last quoted at $49, down 2.8%, on volume of almost 190,000, according to
Nasdaq.com
. Year-to-date, the shares are up more than 40% based on the regular session's close at $50.43.
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