U.S. Movers: PriceSmart, Ruby Tuesday, Supervalu, Texas Industries

Mukesh Buch
10 Jan, 2013
New York City

Emmis Communications third quarter net plunged 92%. PriceSmart first quarter net surged 43%. Ruby Tuesday second quarter net loss widened. Supervalu third quarter net swung to profit. Texas Industries second quarter net loss narrowed.

[R]10:30 AM New York –Emmis Communications third quarter net plunged 92%. PriceSmart first quarter net surged 43%. Ruby Tuesday second quarter net loss widened. Supervalu third quarter net swung to profit. Texas Industries second quarter net loss narrowed.[/R]

Astral Media Inc. , the Canada based media company said revenues in the first quarter ending in November grew 1% to $274.5 million from $271.1 million in the same period of last year. Net earnings in the quarter climbed 6% to $59.1 million or $1.04 per diluted share compared to $55.8 million or $1 a share a year ago earlier.

Emmis Communications Corporation ((EMMS)) soared 5.8% or 11 cents to $2 after the diversified media company stated net revenue in the third quarter ending in November was nearly flat to $53.5 million from $53.4 million in the same period of last year. Net income in the quarter plunged 92% to $4.60 million or 10 cents per diluted share compared to $57.6 million or $1.26 a share a year ago period.

Fisher Communications, Inc. ((FSCI)) climbed 15.8% or $4.51 to $33 after the media company’s boards explore and evaluate potential strategic alternatives.

MSC Industrial Direct Co., Inc. ((MSM)) declined 6.7% or $5.19 to $71.81 after the metalwork distributor said net sales in the first quarter ending on December 1 increased 6% to $577.5 million from $545.7 million in the same period of last year. Net income in the quarter advanced 6% to $63.2 million or $1 per diluted share compared to $59.8 million or 95 cents a share a year ago earlier.

The company expects second quarter net sales between $563 million and $575 million and adjusted diluted earnings per share in the range of 86 cents to 90 cents.

NuVasive, Inc. ((NUVA)) gained 16 cents to $17.62 after the medical devices maker anticipates fiscal 2012 revenue of nearly $619 million from earlier guidance of $601 million to $606 million.

For the fiscal 2013, NuVasive expects revenue of approximate $655 million.

PriceSmart, Inc. ((PSMT)) increased 2.4% or $1.90 to $79.77 after the warehouse club operator reported net sales in the first quarter ending in November climbed 12% to $535.3 million from $477.5 million in the same period of last year. Net income in the quarter surged 43% to $20 million or 66 cents per diluted share compared to $14 million or 47 cents a share a year ago earlier.

PriceSmart said net sales for the month of December 2012, increased 11.6% to $253.7 million and comparable warehouse sales increased 13.7%.

Ruby Tuesday, Inc. ((RT)) plummeted 7.4% or 62 cents to $7.69 after the restaurants operator reported net sales in the second quarter ending on December 4 slid 1% to $304.2 million from $307.4 million in the same period of last year. Net loss in the quarter widened to $15.1 million or 24 cents a diluted share compared to $2 million or 3 cents a share a year ago quarter.

Supervalu Inc. ((SVU)) surged 17.4% or 53 cents to $3.57 after the grocery retailer stated net sales in the third quarter ending on December 1 slipped 5% to $7.91 billion from $8.33 billion in the same period of last year. Net earnings in the quarter swung to $16 million or 8 cents per diluted share compared to net loss of $0.75 million or $3.54 a share a year ago period.

Separately the grocery retailer today announced sale of five retail grocery banners to Cerberus-Led Investor Group in a transaction valued at $3.3 billion. Tender offer for 30% or $4 per share represents a 50% premium to Supervalu’s closing share price as of January 9.

Texas Industries, Inc. ((TXI)) dropped 7.3% or $4.11 to $51.86 after the heavy construction material supplier reported net sales in the second quarter ending in November jumped 11% to $167.7 million from $146.2 million in the same period of last year. Net loss in the quarter narrowed to $11.1 million or 40 cents a diluted share compared to $21 million or 75 cents a share a year ago quarter.

The company added net sales for cement jumped 20%, the growth of sixth consecutive quarter and aggregate and ready-mix net sales climbed 32% and 18% respectively compared to a year ago.