After-hours buzz: Smith & Wesson, VeriPhone & more
Check out which companies are making headlines after the bell Thursday:
Smith & Wesson earned 40 cents per share in its fiscal first quarter, beating Street forecasts for 36 cents per share. Revenue, which increased 26 percent, was also better than expected amid continued strong demand for firearms. For the second-quarter Smith & Wesson forecast earnings of 20 cents to 22 cents per share on revenue of $135 million to $140 million. The stock dropped in late trading.
Electronic payment solutions provider VeriPhone recorded fiscal third-quarter adjusted earnings of 24 cents per share on net revenue of $418 million. Results were ahead of Street forecasts, sending the stock higher in late trading. The company also forecast fourth-quarter earnings of 25 cents per share.
Korn/Ferry, meanwhile, posted fiscal first-quarter earnings excluding items of 33 cents per share, beating forecasts. Revenue came in at $237.6 million, also ahead of expectations. The talent management company sees second quarter earnings of 32 cents to 38 cents per share versus current estimates for 31 cents per share. The stock edged up in after-hours trading.
Cooper Cos., a medical products company, earned $1.74 per share in its fiscal third quarter on revenue of $412 million. Analysts were looking for earnings of $1.71 per share on revenue of $410.5 million. The company also said it sees fourth-quarter earnings in the $1.76 to $1.81 per share range on revenue of $410 million to $425 million. The stock slipped in after-hours trading.
Turning to retail, Gap reported a 3 percent increase in net sales in August compared with a year earlier and a 2 percent rise in same-store sales.
Apparel company Quicksilver shares jumped in late trading after the company posted earnings excluding items of 10 cents per share for its fiscal third quarter, ahead of estimates for 4 cents per share. Revenue came in at $496 million.
Finisar, which makes subsystems and components for fiber optic communications, recorded a fiscal first-quarter profit of 31 cents per share excluding items on revenue of $266.1 million. Finisar sees second quarter earnings of 37 cents to 41 cents per share on revenue of $277 million to $292 million, above analyst estimates. The stock rose in late trading.
In other news, Timken said its board approved a plan to spinoff its steel business from its bearings and power transmission business. The stock surged in late trading.