AeroVironment, Express, Vera Bradley Jump; Trevena Declines

Mukesh Buch
09 Mar, 2016
New York City

AeroVironment net soared and lifted gross profit margin forecast for the year. Express net surged 34% on 5% increase in revenues. Speedway Motorsports net loss narrowed. Trevena net loss widened. Vera Bradley profit plunged 9%.

[R]10:45 AM New York – AeroVironment net soared and lifted gross profit margin forecast for the year. Express net surged 34% on 5% increase in revenues. Speedway Motorsports net loss narrowed. Trevena net loss widened. Vera Bradley profit plunged 9%.[/R]

Tollbooth Index jumped 53.47 or 0.5% to 10,368.53.

Earnings Review

AeroVironment, Inc ((AVAV)) gained 2.7% or 71 cents to $27.29 after the defence products maker reported revenues in the third-quarter ending in January fell 1.2% from a year ago to $67.6 million.

Net income in the quarter soared 169.5% to $6.2 million or 27 cents per diluted share compared to $2.3 million or 10 cents per share from the same quarter last year.

AeroVironment estimated revenue in the fiscal 2016 between $260 million and $280 million and lifted gross profit margin in the range of 38% of 39.5%.

Express, Inc ((EXPR)) jumped 4.9% or 95 cents to $19.88 after the specialty apparel and accessories retailer said net sales in the fourth-quarter ending in January soared 5% from a year ago to $765.6 million.

Comparable sales in the quarter rose 4% and online sales increased 8% to $156.3 million.

Net income in the quarter surged 34.2% to $56.1 million or 67 cents per diluted share compared to $41.8 million or 49 cents per share from the same quarter last year.

The retailer forecasted net income in the first-quarter in the range of $13 million to $15 million and diluted earnings per share between 16 cents and 19 cents.

Speedway Motorsports, Inc ((TRK)) fell 4 cents to $18.89 after the professional sports events organiser reported revenues in the fourth-quarter ending in December advanced 4.3% from a year ago to $87.7 million.

Net loss in the quarter narrowed to $3.5 million or 8 cents per diluted share compared to $13.5 million or 33 cents per share from the same quarter last year.

The sports events organiser forecasted total revenues in the fiscal 2016 in the range of $490 million to $510 million and after tax income between $37million and $45 million.

Trevena Inc ((TRVN)) tumble 13.9% or $1.21 to $7.47 after the biopharmaceutical company stated said revenues in the fourth-quarter ending in December of $1.88 million from a year ago.

Net loss in the quarter widened to $15.5 million or 30 cents per diluted share compared to $13.3 million or 45 cents per share from the same quarter last year.

Vera Bradley, Inc ((VRA)) surged 5.6% or 98 cents to $18.53 after the women''s handbags, accessories designer said net revenues in the fourth-quarter ending in January rose 1% from a year ago to $154.1 million.

Net income in the quarter plunged 9.2% to $15.7 million or 41 cents per diluted share compared to $17.3 million or 43 cents per share from the same quarter last year.

In the first-quarter, the company estimated net revenues of $105 million to $109 million compared to prior year first-quarter revenues of $101.1 million and diluted earnings per share between 4 cents and 6 cents.