U.S. Movers: Adobe, Nordson, Quiksilver, VeriFone

Mukesh Buch
14 Dec, 2012
New York City

Adobe fourth quarter net surged 28% to $222.3 million as cloud revenue jumped. Nordson fourth quarter net climbed 24% and lifted sales outlook. Quiksilver fourth quarter net tumbled 94% and VeriFone net plunged 86%.

[R]10:10 AM New York – Adobe fourth quarter net surged 28% to $222.3 as cloud revenue jumped. Nordson fourth quarter net climbed 24% and lifted sales outlook. Quiksilver fourth quarter net tumbled 94% and VeriFone net plunged 86%.[/R]

Adobe Systems Inc ((ADBE)) climbed 6.4% or $2.30 to $37.83 after the software company reported revenue in the fourth quarter ending in November was flat at $1.15 billion from the same period of last year. Net income in the quarter surged 28% to $222.3 million or 44 cents diluted per share compared to $173.7 million or 35 cents a share a year ago.

Revenue for the fiscal 2012 grew 4% to $4.40 billion from $4.22 billion a year ago. Net income for the year edged down to $832.78 million or $1.66 per share from $832.85 million or $1.65 per share in the prior year.

Adobe said cloud associated revenues achieved record annual growth of 35% to $777 million from a year ago and for the quarter revenue jumped 32% to $220.4 million for the same period of a year ago.

Adobe during the quarter registered nearly 10,000 cloud subscriptions per week from 8,000 per week in the last quarter.

Nordson Corporation ((NDSN)) gained 1.2% or 78 cents to $62.73 after the testing equipments maker said net sales in the fourth quarter ending in October soared 33% to $438.7 million from $331 million in the same period of last year. Net income in the quarter climbed 24% to $67.7 million or $1.04 diluted per share compared to $54.7 million or 81 cents a share a year ago earlier.

For the fiscal 2012, net sales advanced 14% to $1.41 billion from $1.23 billion a year ago. Net income for the year edged up 1% to $224.8 million or $3.45 per share from $222.4 million or $3.25 per share in the prior year.

For the first quarter, Nordson expects sales are to be in the range of $343 million to $354 million, growth of 24% to 28% and diluted earnings per share are expected between 63 cents and 70 cents.

Quiksilver, Inc. ((ZQK)) declined 16.9% or 69 cents to $3.38 after the diversified company stated net sales in the fourth quarter ending in October grew 3% to $559 million from $545.2 million in the same period of last year. Net income in the quarter tumbled 94% to $4.4 million or 2 cents diluted per share compared to $68 million or 38 cents a share a year ago period.

The company added net revenues in America increased 12% to $279 million and decreased 9% to $192 million from Europe. Net revenues from Asia Pacific increased 6% to $87 million.

VeriFone Systems, Inc. ((PAY)) dropped 6.2% or $2.09 to $31.14 after the electronic payment solution provider reported net sales in the fourth quarter ending in October jumped 18% to $485.4 million from $410.7 million in the same period of last year. Net income in the quarter plunged 86% to $27 million or 24 cents diluted per share compared to $198.8 million or $1.84 a share a year ago.

For the first fiscal quarter, VeriFone expects non-GAAP net revenues between $490 million and $500 million and non GAAP net income per diluted share in the range of 70 cents to 73 cents.

For the full year, the company expects total non-GAAP net revenues in the range of $2.05 billion to $2.10 billion and non-GAAP net income per diluted share between $3.25 and $3.30.