Earnings After The Bell: Dec.4

(RTTNews) - Here is a quick summary of the earnings reported after the bell on Dec. 4

Vitesse Loss Narrower Than Estimates; Stock Up 4%

Finisar Results Miss Estimate; Q3 Outlook Weak

Zumiez Q3 Profit Rises

Sportsman's Warehouse Profit Rises, Outlook Weak; Shares Tank 9%

Cooper Profit Falls; Cuts FY Guidance

American Eagle Profit In Line, Weak Q4 Earnings Guidance; Stock Down 4%

Ulta Salon Profit Tops Estimate

Ambarella Q3 Profit Rises

Exa Corporation Q3 Profit Down

Casella Profit In Line With Estimate; Reaffirms FY Revenue Guidance

Delta Apparel Q4 Loss widens

Smith & Wesson Q2 Profit Down, Outlook Weak - Update

Rally Software Loss Narrows, Cuts Upper End Of FY Sales Guidance; Stock Down 6%

1. Vitesse Semiconductor Corp (VTSS) reported fourth-quarter net loss of $2.5 million or $0.04 per share compared with a loss of $5.8 million or $0.10 per share last year.

Excluding items, adjusted loss for the quarter was $0.01 per share compared with a loss of $0.08 per share a year ago.

Revenues for the quarter were $28.7 million compared with $26.9 million in the prior year.

Analysts polled by Thomson Reuters estimated a loss of $0.04 per share on revenues of $27.9 million for the quarter. Analysts' estimates typically exclude special items.

For the first quarter, the company expects revenues of $24 million to $26.5 million, while analysts expect $26 million.

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2. Fiber-optics company Finisar Corp (FNSR) reported second-quarter net loss of $11.4 million or $0.11 per share compared with a profit of $30 million or $0.29 per share last year.

Excluding items, adjusted earnings for the quarter were $0.23 per share compared with $0.43 per share a year ago.

Revenues for the quarter were $297 million compared with $290.7 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.25 per share on revenues of $315 million for the quarter. Analysts' estimates typically exclude special items.

For the third quarter, the company expects earnings of $0.23 to $0.27 per share on revenues of $297 million to $312 million. Analysts expect earnings of $0.28 per share on revenues of $323.9 million.

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3. Sports apparel retailer Zumiez, Inc. (ZUMZ) reported an increase in profit for the third quarter, driven largely by same-store store sales increase and lower expenses.

Lynnwood, Washington-based Zumiez's third-quarter profit rose to $15.7 million or $0.54 per share from $11.9 million or $0.39 per share last year.

Results for the quarter include costs of about $0.6 million, or $0.02 per share for charges associated with the acquisition of Blue Tomato.

On average, 20 analysts polled by Thomson-Reuters estimate earnings of $0.53 per share for the quarter. Analysts' estimate typically exclude one-time items.

Sales for the third quarter increased 11.6 percent to $213.3 million from $191.1 million last year. Analysts had a consensus revenue estimate of $212.01 million for the quarter.

Chief Executive Rick Brooks said. "We delivered double digit earnings growth in the third quarter driven by higher than expected sales along with lower than planned operating expenses."

Comparable sales for the quarter grew to 3.7 percent on top of a comparable sales increase of 1.5 percent last year. Selling, general and administrative expenses, as a percent of sales, dropped to 24.8 percent from 26.2 percent last year.

Zumiez operates as a multi-channel specialty retailer of action sports related apparel, footwear, accessories, and hardgoods.

Looking forward to the fourth quarter, the company expects earnings of $0.69 to $0.72 per share and sales of $249 million to $251 million. Analysts currently estimate earnings of $0.75 per share on revenues of $252.37 million for the quarter.

"We are optimistic about our growth prospects this holiday season and more importantly over the long-term," Brooks said.

ZUMZ closed Thursday's trading at $35.47, down $0.24 or 0.67% on the Nadaq. The stock further dropped $0.57 or 1.61% in the after-hours trade.

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4. Sportsman's Warehouse Holdings Inc. (SPWH), reported an increase in profit for the third quarter, as revenues and margins increased. However, shares of the sporting goods retailer slipped 9 percent in the after-hours trade after it detailed a poor outlook for the fourth quarter and lowered its full-year forecast.

The Midvale, Utah-based company's third-quarter profit rose to $8.92 million or $0.21 per share from $2.22 million or $0.07 per share last year. On average, seven analysts polled by Thomson Reuters estimate earnings of $0.20 per share for the quarter. Analysts' estimates typically exclude one-time items.

Net sales for the quarter grew 4.3 percent to $182.5 million from $175.1 million last year. Analysts had a consensus revenue estimate of $186.34 million for the quarter.

Same store sales decreased by 6.2 percent, primarily as a result of the decline in demand for firearms and ammunition. Gross margins for the quarter improved to 33.2 percent from 31.5 percent last year. The company opened one new store in the third quarter and ended the quarter with 55 stores, an increase of 17 percent from last year.

Chief Executive John Schaefer said, "Our third quarter earnings came in above our guidance range driven by solid results from our non-hunting and shooting product categories combined with positive new store performance and margin expansion."

Looking forward to the fourth quarter, the company expects adjusted earnings of $0.20 to $0.22 per share and sales of $185.0 million to $190.0 million. Analysts currently estimate earnings of $0.24 per share on revenues of $195.39 million for the quarter.

For the full year 2014, the company now expects adjusted earnings of $0.48 to $0.50 per share and sales of $660.0 million to $665.0 million. Analysts currently estimate earnings of $0.51 per share on revenues of $684.37 million for the year.

Earlier, the company expected adjusted earnings of $0.47 to $0.52 per share sales of $665.0 million to $675.0 million.

SPWH closed Thursday's trading at $7.69, down $0.41 or 5.06%, on the Nasdaq. The stock further dropped $0.69 or 8.97% in the after-hours trade.

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5. Medical device company Cooper Cos Inc (COO) reported fourth-quarter net earnings of $31 million or $0.63 per share compared with $57 million or $1.15 per share last year.

Excluding items, adjusted earnings for the quarter were $1.95 per share compared with $1.60 per share a year ago.

Revenues for the quarter were $468 million compared with $411.9 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $2.03 per share on revenues of $481.6 million for the quarter. Analysts' estimates typically exclude special items.

For the full year 2015, the company now expects adjusted earnings of $7.30 to $7.70 per share on revenues of $1.9 billion to $1.96 billion. It earlier expected earnings of $8.20 to $8.60 per share on revenues of $2 billion to $2.06 billion.

Analysts expect earnings of $8.24 per share on revenues of $2.01 billion.

Cooper said its revised guidance reflects moves in currency from, offset by a slight increase from operational improvements.

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6. Teen clothing retailer American Eagle Outfitters Inc. (AEO) reported third-quarter net earnings of $9 million or $0.05 per share compared with $24.9 million or $0.13 per share last year.

Excluding items, adjusted earnings for the quarter were $0.22 per share compared with $0.19 per share a year ago.

Revenues for the quarter were $854 million compared with $857 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.22 per share on revenues of $846 million for the quarter. Analysts' estimates typically exclude special items.

Comparable sales for the quarter slid 5%.

For the fourth quarter, the company expects earnings of $0.30 to $0.33 per share, citing a slight decline in revenue and a mid single-digit drop in comparable sales. Analysts expect earnings of $0.35 per share.

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7. Ulta Salon, Cosmetics & Fragrance Inc (ULTA) reported third-quarter net earnings of $59 million or $0.91 per share compared with $45.4 million or $0.70 per share last year.

On average, 17 analysts polled by Thomson Reuters expected earnings of $0.84 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues for the quarter were up 20.5 percent at $745.7 million compared with $618.8 million in the prior year. Fifteen analysts had a consensus revenue estimate of $734 million for the quarter.

Comparable sales for the quarter climbed 9.5 percent.

For the fourth quarter, the company expects earnings of $1.21 to $1.26 per share, revenues of $997 million to $1.01 billion and comparable sales growth of 6 to 8 percent. Analysts expect earnings of $1.27 per share on revenues of $1.01 billion.

For the full year, the company expects earnings per share growth in the low 20s percentage range, and revenue growth in the 20 percent range. It now expects comparable sales growth of 8 to 9 percent, from prior guidance of 7 to 8 percent.

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8. Semiconductor company Ambarella Inc. (AMBA), reported an increase in profit for the third quarter, thanks mainly to a surge in revenues, with earnings and revenues beating Wall Street estimates.

Santa Clara, California-based Ambarella's third-quarter profit rose to $18.3 million or $0.57 per share from $9.1 million or $0.30 per share last year.

Adjusted income for the quarter improved to $22.1 million or $0.68 per share from $11.1 million or $0.37 per share last year. On average, nine analysts polled by Thomson Reuters expected earnings of $0.54 per share for the quarter. Analysts' estimates typically exclude special items.

Ambarella said revenues for the third quarter jumped 42.8 percent to $65.7 million from $46.0 million last year. Analysts had a consensus revenue estimate of $62.54 million for the quarter.

Gross margin dropped to 63.3 percent from 63.7 percent last year.

Chief executive Fermi Wang said, "Our products for wearable sports and IP security cameras once again delivered strong revenue growth in the quarter, while the automotive aftermarket market also increased, reflecting strength in China and Korea."

Ambarella develops semiconductor processing solutions for video that enable high-definition video capture, sharing, and display.

AMBA closed Thursday's trading at $55.63, down $0.60 or 1.07%, on the Nasdaq. The stock further dropped $1.63 or 2.93% in the after-hours trade.

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9. Exa Corporation (EXA) reported GAAP net income of $0.2 million or $0.02 per share in the third quarter compared to $0.5 million or $0.04 per share last year. Non-GAAP net income was $0.6 million, or $0.04 per share for the period compared to $0.8 million, or $0.05 per share.

Total revenue for the third quarter was $16.0 million, an increase of 13 percent from $14.1 million last year.

Analysts expected the company to report net income of $0.03 per share on revenues of $16.22 million for the period.

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10. Casella Waste Systems Inc (CWST) reported second-quarter net earnings of $260 thousand or $0.01 per share compared with a loss of $340 thousand or $0.01 per share last year.

Revenues for the quarter were $141.3 million compared with $132.3 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.01 per share on revenues of $140.4 million for the quarter. Analysts' estimates typically exclude special items.

For the eight-month transition period ending December 2014, the company continues to expect revenues of $356 million to $366 million.

For the next full fiscal year, which will run from January 2015 through December 2015, the company still expects revenues of $520 million and $530 million.

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11. Delta Apparel, Inc. (DLA) reported net loss for the fourth quarter of $0.8 million, or $0.10 per diluted share versus $568000 or $0.07 per share loss a year ago. On adjusted basis, the company reported earnings of $1.7 million, or $0.22 per diluted share compared with $0.6 million, or $0.07 per diluted share, in the prior-year period.

Fourth quarter sales were $114.9 million, compared with $122.6 million in the prior year quarter.

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12. Firearms maker Smith & Wesson Holding Corp. (SWHC), reported a drop in profit for the second quarter, as revenues and margins declined sharply reflecting lower sales of long guns. Earnings for the quarter came in ahead of Wall Street estimates as did revenues. Moving ahead, the company detailed a weak outlook for the third quarter and lowered its full-year 2015 guidance.

Springfield, Massachusetts-based Smith & Wesson's second-quarter profit dropped to $5.05 million or $0.09 per share from $16.99 million or $0.28 per share last year. On average, seven analysts polled by Thomson Reuters expected earnings of $0.07 per share for the quarter. Analysts' estimates typically exclude special items.

Smith & Wesson, which other than its namesake brand also sells M&P and Thompson/Center Arms, said revenues for the quarter dropped 22.1 percent to $108.45 million from $139.29 million last year. Analysts had a consensus revenue estimate of $105.79 million for the quarter.

The company said sales decline reflects lower demand as consumers have purchased firearms in anticipation of possible additional restrictive regulations. Sales of long guns, primarily modern sporting rifles, declined 50.3 percent, while handgun sales declined 15.0 percent.

Gross margin, or percentage of sales left after deducting production costs, dropped sharply to 32.1 percent from 41.6 percent last year. Operating expenses, as a percent of sales, rose to 22.1 percent from 20.9 percent last year.

Looking forward to the third quarter, the company expects earnings from continuing operations of $0.09 to $0.11 per share and net sales of $113.0 million to $118.0 million. Analysts currently estimate earnings of $0.20 per share on revenues of $129.94 million.

For full fiscal 2015, the company now expects earnings from continuing operations of $0.66 to $0.70 per share and sales of $504.0 million to $508.0 million. Analysts currently estimate earnings of $0.89 per share on revenues of $530.41 million for the quarter.

Earlier, the company expected earnings of $0.89 to $0.94 per share and revenues of $530 million to $540 million.

SWHC closed Thursday's trading at $9.41, down $0.10 or 1.05%, on the Nasdaq. The stock further dropped $0.21 or 2.23% in the after-hours trade.

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13. Rally Software Development Corp (RALY) reported third-quarter net loss of $7.4 million or $0.29 per share compared with a loss of $5.8 million or $0.24 per share last year.

Excluding items, adjusted loss for the quarter was $0.22 per share compared with a loss of $0.17 per share a year a go.

Revenues for the quarter were $22 million compared with $18.9 million in the prior year.

Analysts polled by Thomson Reuters estimated a loss of $0.35 per share on revenues of $22.4 million for the quarter. Analysts' estimates typically exclude special items.

For the fourth quarter, the company expects adjusted loss of $0.26 to $0.23 and revenues of $24 million to $24.6 million. Analysts expect a loss of $0.31 per share and revenues of $24.6 million.

For the full year, the company now expects adjusted loss of $1.05 to $1.02 per share and revenues of $87 million to $87.6 million. Earlier it expected a loss of $1.26 to $1.21 per share and revenues of $87 million to $90 million. Analysts expect a loss of $1.23 per share.

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