After hours: Restoration Hardware misses
Despite posting record sales and earnings for fiscal 2006, shares of Restoration Hardware Inc. (Nasdaq: RSTO) fell in after-hours trading after the home furnishings retailer missed analysts’ estimates on fourth-quarter earnings. The stock dropped $0.41, or 6.2%, to $6.23 on heavy volume after the close of regular trading. For the 14 weeks ended Feb. 3, Corte Madera, Calif.-based Restoration reported income from operations of $13.6 million, or a loss of $0.34 per share, compared with a loss of $19.5 million, or $0.52 per share, in the same period last year. Meanwhile, revenue climbed 27% to $243 million from $191 million in the 13-week period ended Jan. 28, 2006. Eight analysts polled by Thomson First Call had estimated earnings per share of $0.36 on revenue of $239.2 million.
Security solutions provider Aladdin Knowledge Systems Ltd. (Nasdaq: ALDN) rose by $0.78, or 4.6%, to $17.75 in after-hours trading today on news it had inked a three-year supply deal with an Indian IT education agency. The Consortium for Indian Information Technology Education chose the Aladdin eToken key after an “exhaustive evaluation process” that lasted more than a year, according to Chicago-based Aladdin. Financial terms were not disclosed.
Computer server and storage provider Rackable Systems Inc. (Nasdaq: RACK) surprised analysts today when it said after hours that it expects to report a net loss for the first quarter ended March 31. The Milipitas, Calif.-based company’s stock was down $1.03, or 6.1%, to $15.85 in after-hours trading. Eight analysts polled by Thomson First Call were expecting Rackable Systems to record a profit of $0.05 per share for the quarter. Rackable Systems did say that revenue should remain in the target of previous projections of $70 million to $75 million; analysts are projecting revenue of $73.8 million.
Radware Ltd. (Nasdaq: RDWR) said after today’s close that it expects to report a net loss for the first quarter of 2007 compared with previous guidance of a break-even quarter. The Tel Aviv, Israel, technology firm also revised its revenue guidance for the first quarter of 2007, now estimating it to be about $20 million compared with a previous guidance of $21 million to $22 million. Its stock was down $0.27, or 2.1%, to $12.60 on heavy volume in after-hours trading.
Datascope Corp. (Nasdaq: DSCP) CFO Scott Kantor resigned Tuesday to pursue other opportunities, the Montvale, N.J. company disclosed after the market closed today. Shares of the medical device firm were down $0.44, or 1.2%, in after-hours trading. Datascope has tapped company veteran Hank Scaramelli, corporate vice-president and controller, to the role of acting CFO.
Shares of Possis Medical Inc. (Nasdaq: POSS) hit a new 52-week-high in after-hours trading today after the medical device company announced that its Spiroflex VG catheter has received the green light from federal regulators. The news of FDA approval sent Possis’ stock soaring by $2.01, or nearly 16%, to $14.92 on heavy volume after the market closed. Now, Minneapolis-based Possis will be able to market the AngioJet Spiroflex VG rapid exchange catheter for use in bypass grafts in the heart and larger native coronary vessels. The product is already marketed for peripheral arterial use in Europe and other international markets. The approval marks the fourth the company has received from the FDA in four months, Possis said.
Services and software provider Workstream Inc.’s (Nasdaq: WSTM) stock took a $0.08, or 6.1%, dip after hours today after the company posted a widened net loss for the third quarter of fiscal 2007 ending Feb. 28. Workstream, which has headquarters in Orlando, Fla., and Ottawa, Can., posted a loss of $4.4 million, or $0.09 per share on revenue of $7 million, compared with a net loss of $3.4 million, or $0.07 per share on revenue of $6.7 million in the prior year quarter. The firm blamed interest and related charges associated with recent financing for the increased loss. In a separate announcement, Workstream said it named former PeopleSoft executive Deepak Gupta to its board.
