U.S. Movers: AeroVironment, General Mills, Lindsay, Monsanto, Synaptics

Mukesh Buch
26 Jun, 2013
New York City

AeroVironment net swung to loss as revenue plunged 51%. Apollo Group net plummeted 40% and General Mills tumbled 70% to $1.86 billion. Lindsay sales jumped and net surged 39%. Monsanto net slid 3% to $909 million. Synaptics climbed on fourth quarter outlook.

[R]10:20 AM New York – AeroVironment net swung to loss as revenue plunged 51%. Apollo Group net plummeted 40% and General Mills tumbled 70% to $1.86 billion. Lindsay sales jumped and net surged 39%. Monsanto net slid 3% to $909 million. Synaptics climbed on fourth quarter outlook.[/R]

AeroVironment, Inc. ((AVAV)) gained 2.9% or 57 cents to $20.15 after the aerospace company reported revenue in the fourth quarter ending in April plunged 51% to $54.1 million. In the quarter net swung to loss $0.8 million or 4 cents a diluted share compared to net profit $17.8 million or 80 cents.

In the quarter, unmanned aircraft systems revenue declined to $55.0 million and efficient energy systems revenue decreased to $1.6 million.

The company added gross margin tumbled 64% to $17.7 million.

For the year, the company expects revenue in the range of $230 million to $250 million and diluted earnings per share from operations between 35 cents and 50 cents.

Apollo Group, Inc. ((APOL)) declined 6% or $1.18 to $18.20 after the private education provider stated revenue in the third quarter ending in May declined 14% to $946.8 million. Net income in the quarter plummeted 40% to $80 million or 71 cents a diluted share compared to $134 million or $1.13.

For the year, the company expects net revenue in the range of $3.65 billion to $3.70 billion.

General Mills, Inc. ((GIS)) slipped 1.1% or 53 cents to $47.80 after the consumer foods maker reported net sales in the fourth quarter ending on May 26 advanced 8% to $4.4 billion. Net earnings in the quarter tumbled 70% to $1.86 billion or $2.79 a diluted share compared to $1.58 billion or $2.35.

The company added operating profit climbed 11% to $2.85 billion.

For the year, the company expects net sales to increase $18 billion and adjusted diluted earnings per share in the range of $2.87 to $2.90.

Lindsay Corporation ((LNN)) climbed 4.2% or $3.14 to $78.05 after the water management products provider stated revenues in the third quarter ending in May jumped 28% to $219.1 million. Net earnings in the quarter surged 39% to $26.1 million or $2.01 a diluted share compared to $18.8 million or $1.47.

Gross profit for the company climbed 29% to $63 million and operating income jumped 38% to $39.6 million.

Monsanto Company ((MON)) fell 1.2% or $1.22 to $100.18 after the agricultural products provider said net sales in the third quarter ending in May down 0.7% to $4.25 billion. Net earnings in the quarter slid 3% to $909 million or $1.68 a diluted share compared to $937 million or $1.74.

Gross profit in the quarter declined 4% to $2.26 billion.

For the year, the company expects diluted earnings per share in the range of $4.50 to $4.55.

Park Electrochemical Corp. ((PKE)) rose 18 cents to $24.29 after the circuit materials maker reported sales in the first quarter ending on May 27 advanced 6% to $43.4 million. Net income in the quarter was flat at $4.93 million or 24 cents a diluted share compared to $4.93 million or 24 cents.

Smith & Wesson Holding Corporation ((SWHC)) dropped 3.4% or 34 cents to $9.65 after the firearms maker said net sales in the fourth quarter ending in April soared 38% to $178.7 million. Net income from continuing operation in the quarter surged 61% to $28.6 million or 44 cents a diluted share compared to $17.8 million or 27 cents.

Gross profit for the fourth quarter climbed 46% to $68.5 million.

For the first quarter, the company expects net sales in the range of $162 million and $167 million and GAAP earnings per share from continuing operations between 34 cents and 37 cents.

For the year, the company anticipates net sales between $605 million and $615 million and GAAP diluted earnings per share from continuing operations in the range of $1.30 to $1.35.

Synnex Corporation ((SNX)) rose 2 cents to $41.59 after the business service provider reported net sales in the second quarter ending in May increased 4% to $2.59 billion. Net income in the quarter tumbled 10% to $30.8 million or 81 cents a diluted share compared to $34.4 million or 90 cents.

For the third quarter, Synnex expects revenue in the range of $2.65 billion to $2.75 billion and net income between $34.3 million to $35.5 million and diluted earnings per share in the range of 91 cents to 95 cents.

Synaptics Inc ((SYNA)) surged 11.1% or $3.97 to $39.84 after the electronic devices maker expects to report net revenue in the range of $227 million to $230 million for the fourth quarter of fiscal 2013 and increase at the mid-point of approximately 66% year-over-year and 40% sequentially.

The company will release fourth quarter results on August 1 for the quarter ending June 30.