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Market Update

U.S. Movers: Adtran, CarMax, Family Dollar, Fastenal, Titan Machinery


Author: Mukesh Buch
ticker.com
Last Update: 11:09 AM ET April 10 2013

10:55 AM New York Adtran first quarter net plunged 38% and CarMax fourth quarter net jumped 13%. Family Dollar second quarter net jumped 25% and Fastenal first quarter net climbed 9%. PriceSmart second quarter net surged 25%. Titan Machinery fourth quarter net slipped 12.5%.

Adtran, Inc. (ADTN) surged 10.2% or $2.01 to $21.72 after the communications equipment maker reported sales in the first quarter ending in March surged 6% to $143 million. Net income in the quarter plunged 38% to $8 million or 13 cents a diluted share compared to $13 million or 20 cents.

The company added operating income in the quarter plunged 56% to $7 million.

Constellation Brands, Inc. (STZ) fell 5 cents to $48.58 after the wine company reported net sales in the fourth quarter ending on February 28 jumped 11% to $695.9 million. Net income in the quarter tumbled 21% to $81.7 million or 43 cents a diluted share compared to $103 million or 51 cents.

CarMax, Inc. (KMX) gained 3.4% or $1.43 to $43.11 after the holding company stated net sales in the fourth quarter ending on February 28 surged 14% to $2.83 billion. Net income in the quarter jumped 13% to $107 million or 46 cents a diluted share compared to $95 million or 41 cents.

The company said gross profit in the quarter rose 9% to $369 million.

Family Dollar Stores, Inc. (FDO) slipped 1.1% or 68 cents to $59.12 after the specialty retailer said net sales in the second quarter ending on March 2 climbed 18% to $2.89 billion. Comparable store sales in the quarter increased 2.9%.

Net income in the quarter jumped 25% to $140 million or $1.21 a diluted share compared to $136 million or $1.15.

The company added gross profit in the quarter increased 12.8% to $967.1 million.

For the third quarter, the specialty retailer expects diluted earnings per share between 98 cents and $1.08.

Fastenal Company (FAST) dropped 2.3% or $1.21 to $49.67 after the construction machinery supplier reported net sales in the first quarter ending in March advanced 5% to $806 million. Net earnings in the quarter climbed 9% to $109 million or 37 cents a diluted share compared to $100 million or 34 cents.

Healthcare Services Group, Inc. (HCSG) rose 1.5% or 39 cents to $24.90 after the business service provider said revenues in the first quarter ending in March surged 5% to $274 million. Net income in the quarter soared 74% to $15 million or 22 cents a diluted share compared to $9 million or 13 cents.

MSC Industrial Direct Co., Inc (MSM) declined 3.8% or $3.18 to $80 after the metalwork distributor reported net sales in the second quarter ending in March increased 1% to $569.5 million. Net income in the quarter plunged 7% to $56 million or 88 cents a diluted share compared to $60 million or 95 cents.

For the third quarter, the company expects net sales between $597 million and $609 million and diluted earnings per share in the range of 95 cents to 99 cents.

PriceSmart, Inc. (PSMT) gained 3.2% or $2.59 to $82.80 after the specialty retailer stated sales in the second quarter ending on February 28 soared 11% to $607 million. Net income in the quarter surged 25% to $25 million or 82 cents a diluted share compared to $20 million or 67 cents.
The company added operating income in the quarter jumped 20% to $36 million.

SeaChange International, Inc. (SEAC) plunged 5.7 or 66 cents to $10.75 after the multi-screen video service provider reported total revenues in the fourth quarter ending in January rose 3% to $44.6 million. In the quarter net income swung to $7 million or 2 cents a diluted share compared to net loss of $5 million or 1 cent.

The company added operating income in the quarter climbed 8% to $26 million.

For the first quarter, the company expects revenue in the range of $34 million to $36 million.

For the year, the company expects revenue between $165 million and $175.

Titan Machinery Inc. (TITN) plunged 16.9% or $4.44 to $21.68 after the construction service provider reported revenue in the fourth quarter ending in January climbed 29.2% to $784.5 million. Net income in the quarter slipped 12.5% to $15.4 million or 73 cents a diluted share compared to $17.6 million or 84 cents.

Gross profit for the quarter was $104.5 million from $92.8 million in the last year and gross profit margin was 13.3%

The company anticipates revenue to increase in the range of $2.35 billion to $2.55 billion and net income between $42.8 million and $49.2 million and earnings per diluted share in the range of $2 to $2.30.

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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