U.S. Movers: American States Water, Amerigon, Cumulus Media, Zoll Medical

Mukesh Buch
12 Mar, 2012
New York City

American States Water fourth quarter net slumped to $6.71 million. Amerigon fourth quarter net soared to $6 million. Cumulus Media fourth quarter net loss swung to $13.1 million. Zoll Medical agreed to be acquired by Japan based Asahi Kasei for $2.21 billion.

[R]10:45 AM New York – American States Water fourth quarter net slumped to $6.71 million. Amerigon fourth quarter net soared to $6 million. Cumulus Media fourth quarter net loss swung to $13.1 million. Zoll Medical agreed to be acquired by Japan based Asahi Kasei for $2.21 billion.[/R]

American States Water Company ((AWR)) fell 13 cents to $37.34 after the water and electric services provider reported fourth quarter revenue decreased to $95.2 million from $103.7 million in the same quarter last year. Net income in the quarter slumped to $6.71 million or 35 cents per diluted share compared to $9.08 million or 48 cents per share in the year ago earlier.

Revenues in 2011 increased to $419.3 million from $398.9 million in last year. Net income for the year increased to $45.9 million or $2.43 per diluted share compared to $33.2 million or $1.77 per share in the prior year.

Amerigon Inc ((ARGN)) increased 5.6% or 87 cents to $16.00 after the thermoelectric device maker said fourth quarter revenue surged to $131.0 million from $28.9 million in the same quarter last year. Net income in the quarter soared to $6.0 million or 25 cents per diluted share compared to $3.3 million or 15 cents per share in the year ago period.

For 2011, revenue increased to $369.6 million from $112.4 million in last year. Net income for the year declined to $2.12 million or 9 cents per diluted share compared to $9.95 million or 44 cents per share in the prior year.

Cumulus Media Inc. ((CMLS)) decreased 4.8% or 17 cents to $3.32 after the broadcasting company reported fourth quarter net revenue soared to $290.2 million from $69.8 million in the same quarter last year. Net loss in the quarter swung to $13.1 million or 14 cents per diluted share compared to net income of $7.5 million or 17 cents per share in the year ago earlier.

For 2011, revenue increased to $549.5 million from $263.3 million in last year. Net income for the year increased to $63.9 million or 46 cents per diluted share compared to $29.4 million or 69 cents per share in the prior year.

Douglas Dynamics, Inc. ((PLOW)) fell 7 cents to $12.87 after the snow and ice control equipment maker stated fourth quarter net sales increased 24.3% to $60.3 million from $48.5 million in the same quarter last year. Net income in the quarter increased to $6.1 million or 28 cents per diluted share compared to $5.1 million or 23 cents per share in the year ago earlier quarter.

Revenues in 2011 increased 18.1% to $208.8 million from $176.8 million in last year. Net income for the year surged to $18.8 million or 85 cents per diluted share compared to $1.6 million or 9 cents per share in the prior year.

Enzon Pharmaceuticals, Inc. ((ENZN)) increased 2.2% or 15 cents to $6.88 after the biopharmaceutical company reported fourth quarter revenue decreased to $10.0 million from $12.5 million in the same quarter last year. Net loss in the quarter narrowed to $5.0 million or 10 cents per diluted share compared to $8.6 million or 16 cents per share in the year ago earlier.

For 2011 revenue dropped to $48.1 million from $97.9 million in last year. Net loss for the year swung to $20.8 million or 40 cents per diluted share compared to net income of $177.2 million or $3.03 per share in the prior year.

Zoll Medical Corporation ((ZOLL)) soared 23.6% or $17.78 to $92.88 after the medical devices maker agreed to be acquired by Asahi Kasei Corporation for $93 per share and total transaction valued for $2.21 billion. The transaction is expected to close in second quarter of 2012.

Asahi Kasei today closed up 1 yen to 518 yen in Tokyo trading.