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Market Update

U.S. Movers: Cerner, Cynosure, Cumulus Media, j2 Global


Author: Mukesh Buch
ticker.com
Last Update: 11:54 AM ET March 18 2013

11:25 AM New York – Ameresco fourth quarter net climbed 40%. Cerner agreed to acquire automation solution provider Labotix Automation. Cynosure agreed to buy Palomar Medical for $294 million in cash.

Ameresco, Inc. (AMRC) slid 3 cents to $7.62 after the energy infrastructure provider said revenue in the fourth quarter ending in December plunged 17% to $156.6 million from the same period of last year. Net income in the quarter climbed 40% to $5.1 million or 11 cents a diluted share compared to $8.4 million or 19 cents a share a year ago earlier.

Ameresco expects total revenue for the year in the range of $620 million to $670 million and net income between $18 million and $22 million.

Cerner Corporation (CERN) slipped 1.6% or $1.49 to $91.29 after the healthcare information technology agreed to acquire open automation solution provider Labotix Automation Inc.

Cerner said acquisition is not expected to impact its 2013 financial results.

Cynosure, Inc. (CYNO) decreased 1.3% or 38 cents to $28.07 after the aesthetic treatment products provider agreed to acquire Palomar Medical Technologies Inc. valued for $294 million in cash and shares.

Palomar shareholders will receive $13.65 per share. The acquisition price represents premium of nearly 23% from Friday’s close.

Cumulus Media Inc. (CMLS) declined 3.4% or 11 cents to $3.21 after the radio station operator said net revenue in the fourth quarter ending in December rose 1% to $284.2 million from the same period of last year. Net loss in the quarter widened to $84.8 million or 51 cents a diluted share compared to $13.1 million or 14 cents a share a year ago period.

Dex One Corporation (DEXO) rose 2 cents to $2.13 after the printing and publishing company reported net revenue in the fourth quarter ending in December dropped 14.4% to $301.3 million from the same period of last year. Net loss in the quarter swung to $35.4 million or 70 cents a diluted share compared to net income of $5.5 million or 11 cents a share a year ago.

Dex One and SuperMedia today filled a merger plan that is expected to close in the first half of this year.

j2 Global, Inc. (JCOM) fell 32 cents to $36.83 after the agreed to acquired internet faxing the services provider MetroFax, Inc. Terms of the acquisitions were not disclosed and the financial impact is not expected to be material.

Sterling Construction Company, Inc. (STRL) dropped 3.4% or 39 cents to $10.65 after the construction company reported revenues in the fourth quarter ending in December surged 39% to $158.1 million from the same period of last year. In the quarter net income swung to $2.9 million or 1 cent a diluted share compared to net loss of $43.6 million or $2.72 cents a share a year ago period.

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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