U.S. Movers: Avago Technologies, Genesco, OmniVision, Ulta Salon

Mukesh Buch
30 Nov, 2012
New York City

Avago Technologies fourth quarter slid 3% to $159 million. Genesco third quarter net surged 57% and lifted outlook. OmniVision second quarter plunged 51%. United Natural Foods first quarter net jumped 42% and Ulta Salon third quarter net soared 43%.

[R]10:10 AM New York – Avago Technologies fourth quarter slid 3% to $159 million. Genesco third quarter net surged 57% and lifted outlook. OmniVision second quarter plunged 51%. United Natural Foods first quarter net jumped 42% and Ulta Salon third quarter net soared 43%.[/R]

Avago Technologies Ltd. ((AVGO)) slipped 1.4% or 50 cents to $34.60 after the Singapore based semiconductors provider reported net revenue in the fourth quarter ending in October 28 slid 1% to $618 million from $623 million in the same period of last year. Net income in the quarter slid 3% to $159 million or 64 cents a diluted share compared to $154 million or 61 cents a share a year ago earlier.

The company said gross margin of net revenue climbed 48.4% to $299 million

Genesco Inc. ((GCO)) declined 6.9% or $4.22 to $56.35 after the apparel and accessory wholesaler said net sales in the third quarter ending on October 27 climbed 8% to $664.5 million from $616.5 million in the same period of last year. Comparable sales in the quarter increased 4%.

Net income in the quarter surged 57% to $40.9 million or $1.70 a diluted share compared to $26.1 million or $1.09 a share a year ago earlier.

The company lifted full year adjusted diluted earnings per share to be in the range of $5 to $5.08 above from earlier guidance of $4.88 to $5, represents an increase of 22% to 24%.

OmniVision Technologies, Inc. ((OVTI)) dropped 2.1% or 34 cents to $15.54 after the image sensor device maker said revenues in the second quarter ending in October advanced 79% to $390.1 million from $217.9 million in the same period of last year. Net income in the quarter plunged 51% to $10.3 million or 19 cents a diluted share compared to $21.1 million or 35 cents a share a year ago.

The company expects revenues for the third quarter between $390 million and $425 million and GAAP net income per share will be in the range of 17 cents and 30 cents per diluted share.

United Natural Foods, Inc. ((UNFI)) slumped 1.4% or 59 cents to $51.48 after the food products distributor stated net sales in the first quarter ending on October 27 soared 16% to $1.41 billion from $1.22 billion in the same period of last year. Net income in the quarter jumped 42% to $21.5 million or 43 cents a diluted share compared to $15.2 million or 31 cents a share a year ago earlier.

Ulta Salon, Cosmetics & Fragrance, Inc. ((ULTA)) climbed 5.3% or $5.10 to $98.25 after the salon products retailer reported total sales in the third quarter ending on October 27 climbed 22% to $505.6 million from $413.1 million in the same period of last year. Comparable store sales in the quarter jumped 8.4%.

Net income in the quarter soared 43% to $38.2 million or 59 cents a diluted share compared to $26.8 million or 42 cents a share a year ago.

Gross profit increased 60 basis points to 36.7% and operating income increased 38.6% to $61.3 million.

For the fourth quarter, the company expects net sales in the range of $742 million to $754 million and comparable store sales to increase 5% to 7% and earnings per diluted share for the quarter between 96 cents and 98 cents.