12:40 PM New York Ė Alliant Techsystems agreed to acquire Bushnell Group for $985 million in cash. Connís net plunged 18% and Calavo Growers profit jumped 13%. Jos. A. Bank net declined 39% and comparable sales plunged 15.9%. Nordion net surged $180.4 million.
Alliant Techsystems Inc.
) gained 1.2% or $1.15 to $98.36 after the ammunition maker agreed to acquire Bushnell Group Holdings, Inc., for $985 million in cash. Bushnell is a designer and distributor of branded sports optics, outdoor accessories and eyewear.
The transaction is expected to close in the third or fourth quarter of fiscal 2014.
) plunged 8.6% or $5.89 to $62.42 after the specialty retailer reported net sales in the second-quarter ending on August 3 surged 31% to $270.7 million. Comparable store sales in the quarter decreased 2.2%.
Net income in the quarter plunged 18% to $19.2 million or 52 cents a diluted share compared to $7.6 million or 35 cents.
For the year, the company expects diluted earnings per share in the range of $2.50 to $2.65.
Calavo Growers, Inc.
) climbed 6.6% or $1.66 to $26.80 after the fresh food provider said revenue in the third-quarter ending in July soared 27% to $194.9 million. Net income in the quarter jumped 13% to $6.4 million or 43 cents a diluted share compared to $5.7 million or 38 cents.
The Descartes Systems Group Inc
) jumped 4% or 43 cents to $11.20 after the network and logistics technology provider reported revenue in the second-quarter ending in July climbed 25% to $38.2 million. Net income in the quarter plunged 32% to $1.7 million or 3 cents a diluted share compared to $2.5 million or 4 cents.
Services revenues in the quarter jumped 21% to $35.5 million
Jos. A. Bank Clothiers, Inc.
) surged 6.7% or $2.68 to $42.70 after the apparel retailer said net sales ending on August 3 dropped 10.7% to $232.5 million. Comparable store sales in the quarter plunged 15.9% and direct marketing sales in the second-quarter decreased 1.9%.
Net income in the quarter declined 38.8% to $14.2 million or 51 cents a diluted share compared to $23.2 million or 83 cents.
Combined comparable store and internet sales for the second quarter plummeted 15.5%.
) gained 1.8% or 14 cents to $7.99 after the healthcare company reported revenue in the third-quarter ending in July jumped 7% to $71.7 million. Net income in the quarter surged to $180.4 million or $2.91 a diluted share compared to $12.3 million or 20 cents.
Titan Machinery Inc.
) slid 2 cents to $17.10 after the agricultural and construction equipment provider stated revenue in the second-quarter ending in July climbed 19% to $488.2 million. Net income in the quarter dropped 18% to $3.8 million or 18 cents a diluted share compared to $5.2 million or 25 cents.
Equipment sales for the quarter jumped $358.4 million from $306.2 million and revenue from the parts segment $70.6 million compared to $57.9 million in the second-quarter last year. Revenue from rental and other increased to $19.3 million and revenue from service segment grew $39.9 million.
Gross profit for the second quarter of fiscal 2014 was $83.5 million, compared to $70.4 million a year ago.