Wednesday after hours
InfoSonics Corp.’s (Nasdaq: IFON) stock plummeted by $0.67, or 17%, to $3.25 in after-hours trading today after the company widely missed analysts’ first-quarter estimates. Shares had already closed down $0.22, or 5.3%, to $3.92 for the day. For the three months ended March 31, the San Diego, Calif.-based wireless handset provider posted a non-GAAP net loss of about $461,000, or $0.04 per share, on revenue of $58.4 million, compared with a non-GAAP net income of $827,000 or $0.06 per diluted share, on revenue of $54.1 million for the first quarter of 2006. Two analysts polled by Thomson First Call had estimated earnings per share of $0.03 on revenue of $62.6 million. The firm said its Central American operations experienced a significant decrease in handset demand as a result of industry-wide excess inventory in the channel for that particular region.
Air Methods Corp.’s (Nasdaq: AIRM) stock rose by $1.92, or 6.7%, to $30.50 in after-hours trading today when the Denver emergency aeromedical transportation and medical services firm announced first-quarter earnings that widely beat analysts’ estimates. For the three months ended March 31, Air Methods posted net income of $3.7 million, or $0.30 per share, on revenue of $81.5 million, compared with net income of $2.6 million, or $0.21 per share, on revenue of $73 million in the year-ago quarter. Two analysts polled by Thomson First Call had estimated earnings per share of $0.11. The firm attributed the increase in net income to improved reimbursement per community-based transport during the quarter and reductions in maintenance expense.
Visual Sciences Inc.’s (Nasdaq: WSSI) stock got a $2.38, or 21.4%, boost to $13.50 after the closing bell today when the analytics services company announced that its non-GAAP earnings and revenue exceeded analysts’ expectations and that it had raised its guidance for the year. For the three months ended March 31, the San Diego firm, formerly known as WebSideStory Inc., reported non-GAAP earnings of $0.16 per share on record non-GAAP revenue of $20.7 million. Fifteen analysts surveyed by Thomson First Call had estimated earnings of $0.15 per share on revenue of $19.7 million. The firm said it added 77 new customers in the first quarter including CitiSearch, CBC (Canadian Broadcasting Company), Men's Wearhouse, AMD (Advanced Micro Devices) and Amnesty International, and signed 275 new sales bookings with new and existing customers. Earlier in the day, Visual Sciences had announced its name change. The stock will begin trading on the Nasdaq Global Market under symbol “VSCN” as of the opening of trading on Thursday, May 10.
After closing up 4.4%, The Knot Inc.’s (Nasdaq: KNOT) stock took a $2.93, or 13%, dive to $19.50 in after-hours trading today after the New York-based wedding media services firm missed analysts’ earnings estimates despite meeting revenue expectations. For the three months ended March 31, The Knot reported net income of $1.6 million, or $0.05 per share, on revenue of $21 million, compared with net income of $0.07 per share on revenue of $14.8 million in the 2006 first quarter. Six analysts polled by Thomson First Call had estimated earnings per share of $0.08 on revenue of $21 million for the 2007 first quarter. The company cited performance issues in its national online advertising programs.
Shares of Dallas-based Home Solutions of America Inc.(Nasdaq: HSOA) inched upwards by $0.58, or 11%, to $5.83 in after-hours today after the company reported a doubling in first quarter revenue. The stock had closed up $0.25, or 5%, at $5.25 for the day. For the three months ended March 31, Home Solutions reported record net income of $5.7 million or $0.12 per diluted share, on revenue of $39.9 million, compared with net income of $3.1 million or $0.08 per diluted share, on revenue of $19.3 million in the fiscal 2006 first quarter. The firm had previously provided 2007 first-quarter guidance for net income of $0.09 to $0.11 per diluted share on revenue of $35 to $40 million since it said the first quarter historically represents a seasonally slower period for the company. One analyst polled by Thomson First Call had expected earnings per share of $0.10 on revenue of $38.6 million. Home Solutions provides restoration, construction and interior services to commercial and residential customers. The firm said the sales increase was mainly due to its acquisition of Fireline Restoration Inc. and its expansion into new geographic markets.
About the Author
Contributing author Jennifer Allen has two decades of experience as a writer and editor, mainly as a financial wire service correspondent.
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