Francesca’s Reports Higher Profit (TEA, FRAN, CCUR, TGP, TAC)

Francesca’s Reports Higher Profit (TEA, FRAN, CCUR, TGP, TAC)

Teavana Holdings Inc (NYSE:TEA) soared 2.57% to $11.57 after the Company reported second quarter results. Net loss was $146 thousand or $0.00 per share compared to net income of $1.0 million or $0.03 per share in the prior year period. However, analysts expected the Company to earn $0.02 per share for the quarter. Total revenue increased 38% to $43.08 million. However, analysts estimated revenue of $40.50 million for the quarter. The Company expects third quarter net loss in the range of $0.8 million to $1.2 million or $0.02 to $0.03 per share. Revenues for the third quarter are anticipated in the range of $42 million to $45 million.

Francesca’s Holdings Corp (NASDAQ:FRAN) decreased 12.73% to $31.48 after the Company reported second quarter results. Net sales increased $25.1 million or 49.1% for the quarter. Gross profit as a percentage of net sales increased 205 basis points. The increase is primarily the result of leveraging occupancy costs. Income from operations increased 65.7% to $20.9 million. Net earnings was $12.7 million or $0.28 per diluted share compared to $5.5 million, or $0.13 per diluted share in the second quarter of 2011.

The Company said that De Meritt will retire to pursue personal activities and appointed President Neill Davis as CEO, effective January 1, 2013.

Concurrent Computer Corporation (NASDAQ:CCUR) went down 0.62% to $4.03. The Board of Directors has declared a quarterly cash dividend of $0.06 per share of common stock. The dividend is payable on September 28, 2012 to shareholders.

Alcatel Lucent SA and Concurrent Computer Corporation are introducing a joint offering that enables cable TV companies to expand the number and variety of on-demand videos they can offer. Cable operators can then deliver these expanded video offerings to various devices.

Teekay LNG Partners L.P. (NYSE:TGP) slipped 4.86% to $38.01. The Company announced the pricing its follow-on public offering of 4,600,000 common units at $38.43 per unit. Teekay LNG has granted the underwriters a 30-day option to purchase up to an additional 690,000 common units. The Company intends to use the net offering proceeds for general Partnership purposes.

TransAlta Corporation (USA) (NYSE:TAC) went down 3.82% to $14.34. Transalta Corp has entered into an agreement with Fortescue Metals Group Ltd to acquire its 125 megawat dual-fuel Solomon power station for U.S. $318 million.

According to report from Reuters, Fortescue Metals Group Ltd has agreed to sell a power station to TransAlta Corporation for $300 million. As part of the deal, Fortescue will purchase power from the station for its Solomon mine for 16 years, with rights to extend the agreement.