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DAILY EARNINGS

Lululemon Net Up, Men's Wearhouse Net Falls


Author: Mukesh Buch
ticker.com
Last Update: 11:28 AM ET December 12 2013

10:45 AM New York Ciena fourth-quarter net loss widened to $10 million. Comverse third-quarter net swung to a profit $23 million. Lululemon third-quarter net jumped 15% to $66 million. Men''s Wearhouse third-quarter net dropped 6% to $38 million. Nordson fourth-quarter net declined 12% to $60 million.

Earnings Review

Ciena Corporation (CIEN) dropped 4.2% or 96 cents to $21.95 after the communications networking equipment provider said net sales in the fourth-quarter ending in October surged 25% to $583.4 million. Net loss in the quarter widened to $9.8 million or 9 cents a diluted share compared to $38.8 million or 39 cents.

Comverse, Inc. (CNSI) fell 16 cents to $36.25 after the IT services provider stated net sales in the third-quarter ending in October dropped 13% to $160.4 million. Net in the quarter swung to a profit $23.1 million or $1.03 a diluted share compared to a loss of $10.6 million or 48 cents.

Hovnanian Enterprises, Inc. (HOV) climbed 4.4% or 21 cents to $5.22 after the homebuilder said net sales in the fourth-quarter ending in October surged 21% to $591.7 million. Net in the quarter swung to a profit $32.8 million or 21 cents a diluted share compared to a loss of $84.4 million or 59 cents.

Lululemon athletica Inc (LULU) plunged 10.9% or $7.43 to $60.92 and the athletic apparel retailers reported net sales in the third-quarter ending on November 3 climbed 20% to $379.9 million. Comparable store sales in the quarter advanced 5%.

Net income in the quarter jumped 15% to $66.1 million or 45 cents a diluted share compared to $57.3 million or 39 cents.

The retailer also estimated earnings per share in the fourth quarter between 78 cents and 80 cents, lower than 83 cents estimated by analysts.

The Men''s Wearhouse, Inc (MW) jumped 2.1% or $1.07 to $51.53 after the specialty retailer reported total net sales in the third-quarter ending on November 2 increased 2.8% to $648.9 million. Comparable store sales for the quarter increased 2.6%

Net earnings in the quarter dropped 6% to $38.2 million or 79 cents a diluted share compared to $48.8 million or 95 cents.

Nordson Corporation (NDSN) slipped 1.7% or $1.19 to $70.57 after the testing and inspection products maker said sales in the fourth-quarter ending in October declined 6% to $410.8 million.

Net earnings in the quarter dropped 11.7% to $59.8 million or 92 cents a diluted share compared to $67.7 million or $1.04.

For the fiscal first quarter 2014, sales expected in the range of $362 million to $375 million and diluted earnings per share between 55 cents and 63 cents.
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Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc