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Market Update

U.S. Movers: Landec, Lindsay, Mattress Firm, PFSweb, Saic, UniFirst


Author: Mukesh Buch
ticker.com
Last Update: 11:04 AM ET March 27 2013

11:00 AM New York Landec third quarter net edged up and Lindsay second quarter net surged 52%. Mattress Firm fourth quarter net plunged 56% and PFSweb net declined 14.2%. Saic net income swung to $182 million profit.

Landec Corporation (LNDC) dropped 3.6% or 49 cents to $12.85 after the polymer products maker reported revenue in the third quarter ending on February 24 surged 47% to $117.9 million. In the quarter net income edged up to $4.79 million or 18 cents a diluted share compared to $4.77 million or 18 cents.

The company added gross profit for the quarter jumped 33% to $17.5 million.

For the fourth quarter, the company expects revenues between $101 million and $105 million and net income in the range of $4 million to $4.5 million.

Lindsay Corporation (LNN) declined 6.4% or $5.63 to $86.74 after the infrastructure company said net sales in the second quarter ending on February 28 advanced 33% to $175.5 million. Net earnings in the quarter surged 52% to $19.4 million or $1.50 a diluted share compared to $12.8 million or $1.

The company added operating income climbed 52% $29.4 million.

Mattress Firm Holding Corp (MFRM) soared 8.7% or $2.70 to $33.72 after the specialty retailer said net sales in the fourth quarter ending in January climbed 37% to $258.2 million. Comparable sales in the quarter fell 1.6%.

Net income in the quarter plunged 56% to $7.6 million or 41 cents a diluted share compared to $17.4 million or 53 cents.

PFSweb, Inc. (PFSW) surged 11.3% or 39 cents to $3.82 after the outsourcing provider reported total revenue in the fourth quarter ending in December slipped 12% to $77 million. Net income the quarter declined 14.2% to $0.7 million or 5 cents a diluted share compared to $0.8 million or 6 cents.

The company said service fee revenue in the quarter climbed 9% to a record level of $35.4 million.

The company lowered service fee equivalent revenue for the full year to be in the range of $110 million to $115 million.

Saic, Inc (SAI) climbed 5.3% or 69 cents to $13.51 after the holding company stated revenue in the fourth quarter ending in January soared 10% to $2.71 billion. In the quarter net income swung to $182 million or 54 cents a diluted share compared to net loss of $161 million or 49 cents.

For the year 2014, Saic expects revenues between $10 billion and $10.7 billion and diluted earnings per share from continuing operations in the range of $1.16 to $1.33.

UniFirst Corporation (UNF) gained 2.8% or $1.57 to $90.14 after the business service provider reported revenues in the second quarter ending on February 23 climbed 8% to $334.3 million. Net income in the quarter jumped 39% to $26.6 million or $1.33 a diluted share compared to $19.2 million or 96 cents.

For the year, business service provider expects revenues in the range of $1.34 billion to $1.35 billion and diluted earnings per share between $5.65 and $5.80.

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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