U.S. Movers: Acuity Brands, Monsanto, MSC Industrial, SanDisk, Walgreen

Mukesh Buch
04 Apr, 2012
New York City

Monsanto second quarter sales rose 15% and net surged 26% to $1.21 billion and the company lifted full year forecast. MSC Industrial second quarter net soared 21%. SanDisk lowered first quarter guidance on weak pricing and demand. Walgreen March sales fell.

[R]11:30 AM New York – Monsanto second quarter sales rose 15% and net surged 26% to $1.21 billion and the company lifted full year forecast. MSC Industrial second quarter net soared 21%. SanDisk lowered first quarter guidance on weak pricing and demand. Walgreen March sales fell.[/R]

Acuity Brands, Inc. ((AYI)) dropped 8.1% or $5.17 to $58.48 after the lighting fixtures provider reported second quarter net sales increased 10% to $457.7 million from $416.1 million in the same quarter last year. Net income in the quarter edged down to $19.5 million or 46 cents per diluted share compared to $19.9 million or 45 cents per share in the year ago earlier.

Monsanto Company ((MON)) decreased 1.8% or $1.54 to $80.26 after the agricultural products provider reported second quarter net sales increased 15% to $4.75 billion from $4.13 billion in the same quarter last year. Net income in the quarter surged 26% to $1.21 billion or $2.24 per diluted share compared to $1.02 billion or $1.88 per share in the year ago.

Company raises full year ongoing earnings per share guidance to $3.49 to $3.54, or $3.45 to $3.50.

MSC Industrial Direct Co., Inc ((MSM)) slipped 2.4% or $2.10 to $82.17 after the direct marketer of metalwork reported second quarter net sales increased 16.5% to $563.0 million from $483.4 million in the same quarter last year. Net income in the quarter increased 21% to $60.1 million or 95 cents per diluted share compared to $49.7 million or 78 cents per share in the year ago period.

The company now expects third quarter net sales to be in the range of $610 to $622 million and diluted earnings per share to be between $1.08 and $1.12.

Magal Security Systems Ltd ((MAGS)) soared 30.4% or $1.39 to $5.95 after the Israel based security solution provider reported fourth quarter revenues surged 123% to $33.7 million from $15.1 million in the same quarter last year. Net income in the quarter swung to $4.3 million or 27 cents per diluted share compared to net loss of $1.5 million or 14 cents per share in the year ago earlier.

For 2011 total revenue surged 78.3% to $88.6 million from $49.7 million in last year. Net income for the year swung to $9.8 million or 78 cents per diluted share compared to net loss of $6.2 million or 60 cents per share in the prior year.

Mitcham Industries, Inc. ((MIND)) fell 16 cents to $24.16 after the seismic industry service provider reported fourth quarter total revenue surged 88% to $37.0 million from $19.7 million in the same quarter last year. Net income in the quarter soared to $10.2 million or 77 cents per diluted share compared to $1.8 million or 17 cents per share in the year ago quarter.

For 2011 total revenue soared 58% to $112.8 million from $71.4 million in last year. Net income for the year surged to $24.3 million or $2.02 per diluted share compared to $4.7 million or 46 cents per share in the prior year.

SanDisk Corporation ((SNDK)) declined 9% or $4.54 to $45.50 after the data storage solution provider lowered first quarter revenue estimate to $1.2 billion from prior estimate of $1.30 to $1.35 billion. Total gross margin also below of 39 to 42% from the previous guidance. These are mainly due to weaker than expected pricing and demand.

Team, Inc. ((TISI)) slumped 5.3% or $1.76 to $31.10 after the specialty maintenance service provider reported third quarter revenue grew 26% to $136.5 million from $108.8 million in the same quarter last year. Net income in the quarter declined to $2.01 million or 10 cents per diluted share compared to $3.90 million or 19 cents per share in the year ago period.

Walgreen Company ((WAG)) decreased 1% or 34 to $33.51 after the drugstore chain operator reported that total sales, including stores open less than a year, decreased 4.3% to $6.02 billion in March, from $6.29 billion in the same period of last year. Total comparable store sales declined 6.8% in March.