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Market Update

Adobe, NCI Building Jump; Argan, Nordson Drop


Author: Mukesh Buch
ticker.com
Last Update: 9:21 AM ET December 11 2015

11:25 AM New York Adobe Systems profit more doubled to $223 million on 22% jumps in revenues. Argan net slumped 13% and revenues declined 11%. Nordson net tumbled 31%. NCI Building Systems net surged 29%. UTi Worldwide net loss narrowed despite revenues plunged 18%.

Tollbooth Index slumped 143.77 or 1.3% to 10,789.95.

Earnings Review

Adobe Systems Inc (ADBE) jumped 3.7% or $3.18 to $92.14 after the application software developer reported revenues in the fourth-quarter ending on November 27 soared 22.4% from a year ago to $1.31 billion.

Net income in the quarter jumped 152.8% to $222.7 million or 44 cents per diluted share compared to $88.1 million or 17 cents per share from the same quarter last year.

Argan, Inc (AGX) plunged 14.9% or $5.29 to $30.30 after the engineering construction company said revenues in the third-quarter ending in October declined 10.7% from a year ago to $113.9 million.

Net income in the quarter slumped 12.9% to $10.8 million or 72 cents per diluted share compared to $12.4 million or 84 cents per share from the same quarter last year.

Nordson Corporation (NDSN) dropped 4.6% or $3.16 to $65.23 after the industrial machinery maker reported sales in the fourth-quarter ending in October plummeted 5% from a year ago to $446 million.

Net income in the quarter tumbled 31.2% to $49.6 million or 84 cents per diluted share compared to $72.1 million or $1.13 per share from the same quarter last year.

The company forecasted sales for the first-quarter to decrease between 1% and 5% and diluted earnings per share are expected in the range of 47 cents to 57 cents.

NCI Building Systems Inc (NCS) soared 6.3% or 70 cents to $12.02 after the metal products maker stated sales in the fourth-quarter ending on November 1 jumped 17.2% from a year ago to $459.8 million.

Net income in the quarter surged 29.1% to $18.2 million or 25 cents per diluted share compared to $14.1 million or 19 cents per share from the same quarter last year.

UTi Worldwide Inc (UTIW) edged up 1 cent to $6.97 after the air and ocean freight company said revenues in the third-quarter ending in October plunged 18.1% from a year ago to $884.7 million.

Net loss in the quarter narrowed to $32.7 million or 34 cents per diluted share compared to $33.7 million or 35 cents per share from the same quarter last year.

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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