Stocks In News (VRNT, RLH, RECN)
Verint Systems Inc. (NASDAQ:VRNT) increased 2.94% to $31.54 in the pre-market session after the company reported strong profit in its fourth quarter thanks to solid revenue.
The company said that it earned $13.4 million or $0.34 a share, compared to a year ago profit of $9.5 million or $0.25 a share. On an adjusted basis, the company earned 75 cents a share, topping analysts’ estimates by 7 cents. Revenue during the quarter surged to $212.0 million from $186.9 million last year, above analysts’ estimate of $212.15 million.
Looking forward, the company expects fiscal 2013 revenue in the range of $860-$880 million and expect diluted earnings per share in the range of $2.55-$2.70. Analysts are expecting the company to report revenue of $863 million and EPS of $2.69 for fiscal 2013.
Red Lion Hotels Corporation (NYSE: RLH) shares soared in the pre-market session after the company’s board of directors have hired Bank of America Merrill Lynch to explore strategic alternatives, including a potential sale of the company or a strategic combination with a third party. The company aims at maximizing shareholders value.
Resources Connection, Inc. (NASDAQ: RECN) reported third-quarter net income of $4.3 million, or $0.10 per share, as compared to $753 thousand, or $0.02 per share in the year ago quarter. Total revenue increased 4.1% to $143.29 million, as against $137.61 million in the same period last year. Analysts expected the company to report earnings of $0.08 per share on revenues of $143.70 million.
Additionally, the company said that it purchased 913 thousand shares of common stock for $10.9 million during the third quarter of fiscal 2012.
Shares of RECN climbed about 2% in the pre-market session.