11:45 PM New York – Destination Maternity second-quarter net loss widened and revenues fell. Hovnanian Enterprises third-quarter net narrowed and sales declined 23%. Science Applications International Corp second-quarter net soared 36% to $49 million.
Tollbooth Index fell 57.56 or 0.4% to 16,289.59 but for the year-to-date soared 18.4%.
Destination Maternity Corporation
) jumped 3.7% or 16 cents to $4.47 after the maternity apparel and related accessories maker said net sales in the second-quarter ending on August 4 fell 1.9% from a year ago to $96.4 million.
Comparable sales in the quarter increased 1.2% and online sales soared 18.4%.
Net loss in the quarter widened to $4 million or 29 cents per diluted share from $2.8 million or 20 cents in the same quarter last year.
The retailer reaffirmed fiscal 2018 operating profit growth in the range of 30% to 45%.
Hovnanian Enterprises Inc
) slid 0.04 cents to $1.54 after the residential construction reported total revenues in the third-quarter ending in July declined 22.9% from a year ago to $456.7 million.
Net loss in the quarter narrowed to $1 million or 1 cent per diluted share from $337.2 million or $2.28 in the same quarter last year.
Science Applications International Corp
) plunged 8.7% or $7.81 to $82.05 after the technical, engineering and enterprise information technology services provider reported revenues in the second-quarter ending on August 3 jumped 3% from a year ago to $1.1 billion.
Net income in the quarter soared 36% to $49 million or $1.13 per diluted share from $36 million or 80 cents in the same quarter last year.
As of August 3, total backlog of signed business orders was about $10.5 billion.
Separately today, SAIC agreed to acquire engineering and logistics services provider Engility Holdings Inc for about $2.5 billion, including net debt of $900 million.
The transaction is expected to close in the fourth-quarter ending on February 1, 2019.