U.S. Movers: Casey

Mukesh Buch
11 Sep, 2012
New York City

Casey

[R]10:45 AM New York – Casey’s General reported flat quarterly result and Five Below declined as second quarter net plunged 45%. Palo Alto fourth quarter loss narrowed. United Natural Foods Inc net surged 46% and estimated fiscal year sales to increase as much as 14%.[/R]

Casey’s General Stores, Inc ((CASY)) climbed 6.1% or $3.43 to $59.09 after the grocery retailer reported total revenues in the first quarter ending in July nearly flat at $1.87 billion from a year ago quarter. Net income in the quarter slid 1% to $39 million or $1.01 per diluted share compared to $39.4 million or $1.03 per share a year ago earlier.

Five Below, Inc ((FIVE)) declined 6.5% or $2.27 to $32.53 after the discount retailer reported total revenues in the second quarter ending on July 28 climbed 40% to $86.8 million from $62 million in the same period of last year. Comparable store sales in the quarter increased 8.6%.

Net income in the quarter plunged 45% to $1.2 million or $3.41 per diluted share compared to $2.2 million or 10 cents per share a year ago earlier.

The company estimated net sales for the third quarter in the range of $79 million to $81 million and comparable sales to increase in the mid-single digit range.

For fiscal 2012, net sales are expected between of $402 million to $407 million and comparable store sales to increase 6% to 6.5%.

Palo Alto Networks, Inc. ((PANW)) dropped 7.1% or $5.10 to $66.65 after the network security platform provider reported total revenues in the fourth quarter ending in July soared 88% to $75.6 million from $40.2 million in the same period of last year. Net loss in the quarter narrowed to $4.6 million or 18 cents per diluted share compared to $6 million or 40 cents per share a year ago.

The company said cash and equivalents increased $322.6 million at the end of the quarter, this includes of $215.4 million in net proceeds from its July 20, initial public offering.

Shuffle Master, Inc. ((SHFL)) slipped 2.4% or 37 cents to $15.06 after the casino cards and accessories maker reported total revenues in the third quarter ending in July grew 9% to $63.4 million from $58.3 million in the same period of last year. Net income in the quarter climbed 14% to $10.4 million or 18 cents per diluted share compared to $9.1 million or 17 cents per share a year ago period.

The company said gross margin jumped 100 basis points to 63% but operating income margin declined 66 basis points to 21% from a year ago.

United Natural Foods, Inc ((UNFI)) plunged 11.2% or $6.79 to $53.64 after the food wholesaler reported net sales in the fourth quarter ending on July 28 increased 16% to $1.34 billion from $1.16 billion in the same period of last year. Net income in the quarter surged 46% to $25.1 million or 51 cents per diluted share compared to $17.2 million or 35 cents per share a year ago.

For fiscal 2013, the company expects net sales in the range of $5.88 billion to $5.98 billion, an increase of 12.3% to 14.2% and expected earnings per diluted share between of $2.14 to $2.24 an increase of about 15.1% to 20.4%.

In a separate statement the company said its plans to consolidate its four existing Denver-based distribution facilities into a new 535,000 square foot facility located at Gateway Park in Aurora, Colorado. The new facility is expected to commence operations in the summer of 2013.