Civitas Plunges on Impairment Charges, Lennox Offered Optimistic Outlook

Mukesh Buch
13 Dec, 2017
New York City

Arrowhead Pharmaceuticals net loss narrowed. Civitas Solutions booked $31 million of impairment charges. Lennox International offered cautiously optimistic outlook. Mongodb subscription revenue surged.

[R]11:45 AM New York City, New York – Arrowhead Pharmaceuticals net loss narrowed. Civitas Solutions booked $31 million of impairment charges. Lennox International offered cautiously optimistic outlook. Mongodb subscription revenue surged.[/R]

Tollbooth Index increased 31.14 or 0.2% to 13,851.50.

Earnings Review

Arrowhead Pharmaceuticals Inc ((ARWR)) slumped 7% or 25 cents to $3.30 after the medicines maker stated revenues in the year ending in September surged from a year ago to $31.4 million.

Net loss in the quarter narrowed to $34.4 million or 47 cents per diluted share from $81.7 million or $1.34 in the same quarter last year.

Civitas Solutions Inc ((CIVI)) tumbled 11.1% or $2.20 to $17.60 after the post-acute care services provider said revenues in the fourth-quarter ending in September jumped 5% from a year ago to $380.4 million.

Net in the quarter swung to a loss of $10.7 million or 29 cents per diluted share from profit of $2.7 million or 7 cents in the same quarter last year.

Civitas said drop in operating margin was driven by $31 million of goodwill and intangible asset impairment charges related to ADH business unit.

Lennox International Inc ((LII)) rose 28 cents to $206.96 after the climate control solutions provider reaffirmed fiscal 2017 revenue growth between 5% and 7% and diluted earnings per share in the range of $7.67 to $7.97.

In fiscal 2018, the company forecasted revenue growth in the range of 3% to 7% and diluted earnings per share between $8.65 and $9.25.

Mongodb Inc ((MDB)) declined 5.3% or $1.55 to $27.45 after the general purpose database platform provider stated total revenues in the third-quarter ending in October soared 58% from a year ago to $41.5 million.

Net loss in the quarter widened to $24.2 million or $1.39 per diluted share from $19.5 million or $1.57 in the same quarter last year.

The cloud-based database platform provider said subscription revenue in the quarter surged 59% to $37.9 million and services revenue jumped 44% to $3.6 million from a year ago period.