Fusion-io, Harman Intl., Janus Rise; Ubiquiti Networks Falls

Sarla Buch
10 Aug, 2012
New York City

Brookfield Asset Management second quarter net tumbled 73.5% and Fusion-io net swung to loss but increased annual revenue guidance. Harbinger third quarter net swung to $149 million loss. Janus soars on Dai-Ichi deal for $2 billion. Ubiquiti fourth quarter net swung to profit.

[R]11:45 AM New York – Brookfield Asset Management second quarter net tumbled 73.5% and Fusion-io net swung to loss but increased annual revenue guidance. Harbinger third quarter net swung to $149 million loss. Janus soars on Dai-Ichi deal for $2 billion. Ubiquiti fourth quarter net swung to profit.[/R]

Brookfield Asset Management Inc. ((BAM)) rose 25 cents to $34.78 after the asset manager reported total revenues in the second quarter of ending in June increased 8.3% to $4.29 billion compared to $3.96 billion in the same period of last year. Net income in the quarter tumbled 73.5% to $379 million or 17 cents per diluted share compared to $1.43 billion or $1.32 per share a year ago earlier.

Fusion-io Inc ((FIO)) surged 29.5% or $6.21 to $27.23 after the information technology reported net sales in the second quarter ending in June surged 71.7% to $106.6 million compared to $71.7 million in the same period of last year. Net loss in the quarter swung to $2.4 million or 3 cents per diluted share compared to net income of $5.8 million or 6 cents per share a year ago period.

The company expects revenue for the fiscal first quarter increase modestly from fourth quarter and for the full year revenue growth to be in the range of 45 to 50%.

Harman International Industries, Inc ((HAR)) gained 2.5% or $1.07 to $43.58 after the audio products maker reported net sales in the fourth quarter ending in June advanced 5.8% to $1.09 billion compared to $1.03 billion in the same period of last year. Net income in the quarter more than four-fold to $49 million or 69 cents per diluted share compared to $9 million or 26 cents per share a year ago period.

Harbinger Group Inc. ((HRG)) increased 1.2% or 11 cents to $9.06 after the holding company reported revenues in the third quarter ending on July 1 increased 2.5% to $824.8 million compared to $804.6 million in the same period of last year. Net loss in the quarter swung to $149 million or $1.07 per diluted share compared to net income $211 million or $1.16 per share a year ago.

Janus Capital Group Inc. ((JNS)) surged 15.3% or $1.18 to $8.87 after the investment service provider said it reached an agreement which Japan based Dai-ichi Life Insurance Co. to sell up to a 20% stake in the company and invest $2 billion and help distribution in Japan.

Ubiquiti Networks, Inc. ((UBNT)) plummeted 40.5% or $6.08 to $8.93 after the wireless broadband service provider reported revenues in the fourth quarter ending in June surged 40.3% to $94.9 million compared to $67.6 million in the same period of last year. Net income in the quarter swung to $28.5 million or 30 cents per diluted share compared to net loss of $9.35 million or 15 cents per share a year ago period.