United Natural Foods, Inc. (
UNFI: chart) of Dayville, Connecticut, posted Tuesday net income of $8.6 million, or 21 cents a share, for the fiscal third quarter of 2004, a 51% increase from net income of $5.8 million, or 15 cents a share, in the 2003 corresponding period. Excluding extraordinary items, the U.S. leading distributor of natural and organic foods turned in earnings of $9.2 million, or 22 cents a share, for the quarter ended April 30, up from $6.2 million, or 16 cents a share, last year. Earnings were 2 cents a share ahead of the consensus estimate of analysts. Quarterly net sales jumped 23.5% to $448.9 million from $363.6 million, in the prior-year quarter. The company said growing demand for natural and organic products helped boost its results. United Natural also credited its renewed supply contract with grocer Wild Oats Market Inc. for the profit rise. As a result of the third-quarter performance, the company raised its full-year financial outlook and now expects a profit before items of 74 cents to 77 cents a share, on revenue of $1.62 billion to $1.64 billion. Its previous 2004 forecast was for a profit of 73 cents to 76 cents a share, and revenue of $1.60 billion to $1.62 billion.
Company shares soared 5.46% to close Tuesday at $26.67. The stock added 3 cents to $26.70 in after-hours trading.
Pall Corporation (
PLL: chart) reported after the bell Tuesday that its third-quarter net earnings rose to $46.5 million, or 37 cents a share, from net earnings of $40.4 million, or 33 cents a share, in the 2003 equivalent. The East Hills, New York-based provider of filtration and purification systems attributed the results to strong demand in Asia and favorable currency exchange rates. Sales in the quarter climbed 10% to $463.9 million from $421.5 million, a year earlier. Earnings, however, fell 2 cents a share short of analysts’ projections.
Pall shares closed Tuesday down 3 cents, or 0.12%, at $24.15. The stock dropped a penny to $24.14 in after-market trade.
Adecco SA (
ADO: chart) announced Tuesday its delayed results for fiscal year 2003, with no restatement of prior year accounts as no major accounting problems were found. The Switzerland-based world’s top employment agency said that its 2003 earnings rose 26% to €305 million ($381 million) from earnings of €242 million generated in fiscal 2002. Annual sales eased to €16.3 billion ($20.4 billion) from €17.1 billion, in 2002, mainly due to the strength of the Euro against most other currencies.
The stock soared 6.07% to $12.75 at market close Tuesday.
eOn Communications Corporation (
EONC: chart) of Kennesaw, Georgia, said after market close Tuesday that it swung to a quarterly loss from a prior-year profit, hurt by delays in orders for its eQueue product. The supplier of Linux-based servers and software that integrate voice and Internet communications announced a net loss of $944,000, or 7 cents per share, for the fiscal third quarter, against net income of $82,000, or a penny per share, in the same quarter a year ago. Quarterly revenues dropped to $2.8 million from $4.7 million, in fiscal 2003.
Company shares gained 6 cents on Tuesday to $2.03. The stock plummeted 12.81% to $1.77 in the extended session.
Ryanair Holdings plc (
RYAAY: chart) posted Tuesday annual earnings that beat analysts’ expectations, aided by strong revenue growth. The Dublin, Ireland-based low-fare airline rolled out a net profit before items of €226.6 million ($277.8 million) for fiscal year 2004, surpassing analysts’ forecasts for a profit in the range of €195 million to €218 million. For fiscal 2003, Ryanair posted earnings before items of €238 million. Revenue in 2004 jumped 28% to €1.07 billion.
The stock rose 0.68% to close Tuesday at $30.90. Ryanair shares dropped a penny to $30.89 in the extended trading.
Manugistics Group, Inc. (
MANU: chart) of Rockville, Maryland, said Tuesday that it will report a loss, excluding items, in the range of 6 cents to 7 cents per share, for its fiscal first quarter, blaming weaker software sales. Currently, analysts expect the maker of supply chain management software to deliver a first-quarter profit of 2 cents a share, on average. Including items, the company sees its quarterly loss at $7 million to $8 million, or 9 cents to 10 cents a share. In the year-earlier quarter, the net loss was $18.5 million, or 26 cents a share.
Company shares plunged 9.44% to $4.03 at market close Tuesday.
Axsys Technologies, Inc. (
AXYS: chart) on Tuesday revised upward its financial estimates for 2004, citing the acquisition of Telic. The Rocky Hill, Connecticut-based maker of precision optical assemblies said it now expects 2004 operating income to rise 55% to 60%, on revenue growth of 15% to 16%. Axsys had earlier projected income increase of 48% to 54% and revenue growth of 11% to 14%.
The stock surged 12.92% on Tuesday to $21.85. Axsys shares added 4 cents to $21.89 in after-hours trading.
Alkermes, Inc. (
ALKS: chart) of Cambridge, Massachusetts, repeated Tuesday that it expects to post a net loss before restructuring charges of 39 cents to 50 cents per share, for fiscal year 2005. The drug maker reduced its 2005 revenue target to a range of $90 million to $120 million, from previous forecast of $95 million to $125 million, as the company decided to stop selling its growth hormone Nutropin Depot. Analysts project a loss of 49 cents per share for fiscal 2005.
Alkermes shares closed Tuesday at $14.69, up 29 cents, or 2.01%. The stock slipped 3.06% to $14.24 in after-market trade.
VCA Antech, Inc. (
WOOF: chart) announced Tuesday that it expects to report higher annual earnings, citing its merger with National Petcare Centers as principal contributor to the forecast. The Los Angeles, California-based operator of the largest chain of animal hospitals in the U.S. said that it sees a profit of $1.44 to $1.45 per share, for fiscal year 2004, on revenue between $636 million and $648 million. The average analysts’ estimate is for a profit of $1.45 per share, on revenue of $625.9 million.
The stock rose 2.72% to $44.20 at market close Tuesday. Company shares shed 10 cents to $44.10 in after-hours trading.