U.S. Movers: K12, Perrigo, Pier 1, Pall Corp., Pluristem Therapeutic

Mukesh Buch
13 Sep, 2012
New York City

K12 Inc fourth quarter swung to profit. Perrigo to acquire privately held Sergeant''''s Pet Care Products Inc. for $285 million and the specialty retailer Pier 1 second quarter net surged 58%. Pall Corporation net slumped 12% to $86.2 million.

[R]10:40 AM New York – K12 Inc fourth quarter swung to profit. Perrigo to acquire privately held Sergeant''s Pet Care Products Inc. for $285 million and the specialty retailer Pier 1 second quarter net surged 58%. Pall Corporation net slumped 12% to $86.2 million.[/R]

Evolution Petroleum Corporation ((EPM)) slipped 2.8% or 24 cents to $8.09 after the explorer reported total revenues in the fourth quarter ending in June advanced 44% to $4.58 million from $3.17 million in the same period of last year. Net income in the quarter jumped 75% to $0.93 million or 3 cents per diluted share compared to $0.53 million or 2 cents per share a year ago earlier.

K12 Inc. ((LRN)) climbed 5.8% or $1.24 to $22.62 after the online education service provider reported total revenues in the fourth quarter ending in June soared 33% to $170.4 million from $128.3 million in the same period of last year. Net income in the quarter swung to $1.8 million or 5 cents per diluted share compared to net loss of $2.8 million or 8 cents per share a year ago period.

The school said growth of managed public schools contributed 31.3% to $596.1 million and institutional business gained 56.5% to $73.1 million and international and private pay business reported growth of 80.4% to $39.1 million.

Perrigo Company ((PRGO)) gained 44 cents to $110.37 after the generic drug maker agreed to acquire privately held Sergeant''s Pet Care Products Inc. for $285 million in cash. Sergeant expected to generate at least $140 million in sales during its fiscal year ending September 30.

Perrigo expects to receive tax benefit of approximately $50 million. The acquisition expected to close during the company’s second quarter of fiscal 2013.

Pier 1 Imports, Inc ((PIR)) added 3 cents to $19.58 after the home furnishing retailer reported net sales in the second quarter ending on August 25 climbed 8% to $367.6 million from $339.5 million in the same period of last year. Comparable store sales in the quarter increased 6.7%.

Net income in the quarter surged 58% to $26.2 million or 24 cents per diluted share compared to $16.6 million or 14 cents per share a year ago earlier.

The specialty retailer added gross profit for the quarter soared 160 basis points to 41.2% to $151.5 million and operating income jumped 36% to $32.3 million this represents 8.8% of sales.

The retailer expects comparable store sales growth in the mid single-digit range and earnings per share in the range of $1.15 to $1.21.

Pall Corporation ((PLL)) jumped 7.5% or $4.38 to $62.55 after the filtration technology provider reported total sales in the fourth quarter ending in July edged up 0.4% to $783.7 million from $780.4 million in the same period of last year. Net earnings in the quarter slumped 12% to $86.2 million or 73 cents per diluted share compared to $97.4 million or 82 cents per share a year ago earlier.

For the fiscal 2013, the Pall expects pro forma earnings per share between $3.05 and $3.25 range, reflecting growth of 9% to 16%.

Pluristem Therapeutics Inc. ((PSTI)) plunged 14.8% or 67 cents to $3.87 after the bio-therapeutics company plans to offer shares common stock and warrants to purchase shares of its common stock in a registered public offering. The company has not specified the number of common shares and warrants in a public offering.