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Market Update

U.S. Movers: Annie’s, Lululemon, Limoneira, Pep Boys, Stewart


Author: Mukesh Buch
ticker.com
Last Update: 11:22 AM ET June 11 2013

11:15 AM New York – Annie’s fourth quarter sales and profit surged. Lululemon revenue jumped 21% and said CEO Christine Day will leave the company. Limoneira net jumped nearly three-fold. Pep Boys net surged. Stewart profit climbed 37%.

Annie’s, Inc. (BNNY) dropped 3.7% or $1.54 to $40.14 after the food processing company reported net sales in the fourth quarter ending in March soared 23% to $52.7 million. Net income in the quarter surged 121% to $4.2 million or 24 cents a diluted share compared to $1.9 million or 5 cents.

For the year, the company expects adjusted earnings per share in the range of 97 cents to $1.01 or increase to 21% to 26% and adjusted net sales increase 18% to 20%.

Lululemon Athletica Inc. (LULU) tumbled 16.7% or $13.74 to $68.50 after the athletics apparel products maker said net revenue in the first quarter ending on May 5 jumped 21% to $345.8 million. Comparable store sales in the quarter climbed 7%.

Net income in the quarter increased 1.5% to $47.7 million or 32 cents a diluted share compared to $46.6 million or 32 cents.

The company added gross profit in the quarter climbed 9% to $170.7 million.

For the second quarter, the company expects net revenue in the range of $340 million to $345 million based on comparable store sales increase 5% to 7% and diluted earnings per share between 33 cents and 35 cents.

For the full year, Lululemeon expects net revenue between $1.65 billion to $1.67 billion and diluted earnings per share in the range of $1.96 to $2.01.

Limoneira Company (LMNR) gained 2.9% or 56 cents to $19.90 after the fruit producer and real estate developer stated revenue in the second quarter ending in April climbed 45% to $23.3 million. Net income in the quarter jumped nearly three-fold to $2.44 million or 19 cents a diluted share compared to $0.67 million or 6 cents.

The company added operating income in the quarter surged 112% to $3.39 million.

For the year, the company expects to sell cartons of lemons in the range of 3 million to 3.2 million or increase approx 25% and pounds of avocados to sell between 17 million and 19 million or increase about 50%.

Medical Action Industries Inc. (MDCI) plunged 6.9% or 55 cents to $7.45 after the medical products supplier said net sales in the fourth quarter ending in March nearly flat to $107.9 million. In the quarter net swung to profit $0.7 million or 4 cents a diluted share compared to net loss $2.5 million or 15 cents.

National Technical Systems, Inc. (NTSC) rose 1.5% or 21 cents to $14.20 after the business services provider reported revenues in the first quarter ending in April increased 4% to $45 million. Net income in the quarter climbed 51% to $1.43 million or 12 cents a diluted share compared to $0.95 million or 8 cents.

The Pep Boys-Manny, Moe & Jack (PBY) fell 1.8% or 23 cents to $12.34 after the automotive service provider said sales in the first quarter ending on May 4 grew 2% to $536.2 million. Comparable store sales in the quarter rose 1%.

Net income in the quarter surged to $3.9 million or 7 cents a diluted share compared to $1.1 million or 2 cents.

Stewart Enterprises, Inc. (STEI) slid 1 cent to $13.04 after the funeral and cemetery provider revenues in the second quarter ending in April rose 1% to $133.9 million. Net income in the quarter climbed 37% to $11.9 million or 14 cents a diluted share compared to $8.7 million or 10 cents.

Gross profit in the quarter climbed 10% to $32 million and operating earnings jumped 21% to 25.1 million.

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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