U.S. Movers: AMC Networks, Cisco, Guess, Ross Stores, Cato, Vera Bradley

Mukesh Buch
15 Mar, 2012
New York City

Radvision td gained 4% after it agreed to a merger with Avaya Inc for $230 million. Guess plunged 11% after it reported weaker than expected revenues. Ross Stores fourth quarter net increased 19%. Eagle Bulk Shipping dropped 9%. Scholastic Corp lifted its 2012 outlook.

[R]11:25 AM New York – Radvision td gained 4% after it agreed to a merger with Avaya Inc for $230 million. Guess plunged 11% after it reported weaker than expected revenues. Ross Stores fourth quarter net increased 19%. Eagle Bulk Shipping dropped 9%. Scholastic Corp lifted its 2012 outlook.[/R]

AMC Networks Inc. ((AMCX)) decreased 4.4% or $2.02 to $44.00 after the cable television operator reported fourth quarter net revenue increased 13.6% to $338.9 million from $298.5 million in the same quarter last year. Net income in the quarter increased to $29.5 million or 41 cents per diluted share compared to $19.3 million or 28 cents per share in the year ago earlier.

For the year 2011 net revenue increased 10.1% to $1.19 billion from $1.08 billion in last year. Net income for the year increased to $126.5 million or $1.79 per diluted share compared to $80.1 million or $1.16 per share in the prior year.

Cisco Systems, Inc. ((CSCO)) decreased 1.3% or 27 cents to $19.92 after the communication equipments maker plans to acquire NDS Group Ltd. a digital television company in a deal valued approximately for $4 billion and assume $1 billion in debt. The acquisition of NDS will accelerate the delivery of Cisco''s Videoscape platform for opportunities of new service markets such as China and India.

Guess?, Inc ((GES)) dropped 11.4% or $4.20 to $32.50 after the apparel and accessory retailer reported fourth quarter net revenue rose 3% to $775.8 million from $756.9 million in the same quarter last year. Net earnings in the quarter decreased 12.4% to $95.9 million or $1.05 per diluted share compared to $103.3 million or $1.11 per share in the year ago.

For the year 2011 net revenue increased 8.1% to $2.69 billion from $2.49 billion in last year. Net earnings for the year slumped 9.9% to $265.5 million or $2.86 per diluted share compared to $289.5 million or $3.11 per share in the prior year.

QR Energy, LP ((QRE)) fell 7 cents to $23.33 after the holding company reported fourth quarter total revenue was to $64.4 and net loss in the quarter was to $26.5 million or 98 cents per diluted share.

For the year 2011 total revenue was to $259.9 million and net income for the year was to $61.1 million or 10 cents per diluted share.

Ross Stores, Inc. ((ROST)) decreased 2.8% or $1.60 to $54.97 after the off-price retailer reported fourth quarter net sales increased 12% to $2.40 billion from $2.15 billion in the same quarter last year. Comparable store sales for the quarter increased 7%. Net earnings in the quarter increased 19% to $192.0 million or 85 cents per diluted share compared to $161.8 million or 69 cents per share in the year ago.

For the year 2011 net sales increased 9% to $8.61 billion from $7.87 million in last year. Comparable store sales for the quarter grew 5%. Net earnings for the year increased 18% to $657.2 million or $2.86 per diluted share compared to $554.8 million or $2.31 per share in the prior year.

rue21, Inc. ((RUE)) slipped 4.2% or $1.22 to $27.52 after the specialty apparel retailer reported fourth quarter net sales increased 15.7% to $219.9 million from $190.1 million in the same quarter last year. Comparable store sales for the quarter fell 2.2%. Net income in the quarter increased 18.7% to $12.9 million or 52 cents per diluted share compared to $10.9 million or 44 cents per share in the year ago period.

For the year 2011 net sales increased 19.8% to $760.3 million from $634.7 million in last year. Comparable store sales for the quarter rose 0.4%. Net income for the year soared 28.8% to $39.0 million or $1.55 per diluted share compared to $30.2 million or $1.21 per share in the prior year.

Scholastic Corporation ((SCHL)) soared 13.7% or $4.43 to $36.63 after the Children’s publishing and media company reported third quarter revenue surged 22% to $467.0 million from $384.3 million in the same quarter last year. Net loss in the quarter narrowed to $3.2 million or 10 cents per diluted share compared to $25.1 million or 81 cents per share in the year ago.

The Cato Corporation ((CATO)) decreased 1.9% or 54 cents to $27.02 after the specialty retailer reported fourth quarter net sales fell to $224.3 million from $227.0 million in the same quarter last year. For the quarter same store sales decreased 4%. Net income in the quarter grew 4.5% to $10.1 million or 35 cents per diluted share compared to $10.9 million or 37 cents per share in the year ago period.

For the year 2011 net sales increased to $931.5 million from $924.7 million in last year. For the year same store sales fell 1%. Net income for the year increased 7% to $64.8 million or $2.21 per diluted share compared to $58.9 million or $2.00 per share in the prior year.

ValueVision Media, Inc. ((VVTV)) increased 2.7% or 5 cents to $1.89 after the consumer durables retailer reported fourth quarter net revenue dropped 17.5% to $147.5 million from $178.8 million in the same quarter last year. Net loss in the quarter widened to $8.3 million or 17 cents per diluted share compared to $1.4 million or 4 cents per share in the year ago quarter.

For the year 2011 net revenue fell 0.7% to $558.4 million from $562.3 million in last year. Net loss for the year widened to $48.1 million or $1.03 per diluted share compared to $25.9 million or 78 cents per share in the prior year.

Vera Bradley, Inc. ((VRA)) slumped 9.8% or $3.65 to $33.49 after the apparel and accessory retailer reported fourth quarter net revenue soared 23% to $134.5 million from $109.4 million in the same quarter last year. Net income in the quarter surged 41% to $20.1 million or 50 cents per diluted share compared to $14.2 million or 35 cents per share in the year ago period.

For the year 2011 net revenue increased 26% to $460.8 million from $366.1 million in last year. Net income for the year grew to $57.9 million or $1.43 per diluted share compared to $46.2 million or $1.25 per share in the prior year.