Pandora Media Soars On Earnings (FLOW, P, GWAY, KITD, GEF)
Flow International Corporation (NASDAQ:FLOW) reported first-quarter net income of $2.2 million or $0.05 per share, up from $0.7 million or $0.01 per share in the comparable quarter last year. Sales rose 10% to $66.2 million from $60.0 million in the same quarter last year. Analysts expected the company to earn $0.05 per share on revenues of $64.75 million for the quarter.
Pandora Media Inc (NYSE:P) stock gained 9.42% to $11.03 in the after hour trading after the company posted second quarter net loss of $5.4 million or $0.03 per share, as compared to a net loss of $3.2 million or $0.04 per share for the year-ago quarter. Adjusted net income for the second quarter was $622,000 or breakeven per share, compared to $3.3 million or $0.02 per share in the prior year quarter. Total revenue rose 51% to $101.29 million from $66.97 million in the same quarter last year. Analysts expected the company to report a loss of $0.03 per share on revenue estimate of $100.94 million for the second quarter.
Greenway Medical Technologies, Inc. (NYSE:GWAY) reported fourth quarter net income of $2.2 million or $0.07 per share, as compared to a net loss of $12.6 million or $1.09 per share for the year-ago quarter. Adjusted net income for the latest quarter was $3.0 million or $0.10 per share. Revenue for the fourth quarter rose 24% to $36.4 million from $29.4 million a year earlier. Analysts expected the company to earn $0.09 per share on revenue of $34.36 million for the fourth quarter.
KIT digital, Inc. (NASDAQ:KITD) has been named the leader in the content management systems industry for large operators by ABI Research, a market intelligence company specializing in global technology markets.
The shares of the company had its target price trimmed by ThinkEquity from $4.00 to $3.00 in a research note issued to investors last week. The firm currently has a hold rating on the stock.
Greif, Inc. (NYSE:GEF) posted a lower third-quarter profit as sales volumes at its rigid-industrial segment declined, and the company warned of continued weakness for the rest of 2012.
The company posted a third quarter net income of $40.7 million, or $0.70 per share, from $66.9 million, or $1.14 per share, in the same quarter a year earlier. Adjusted earnings were $0.75 per share. Revenue fell 2% to $1.10 billion. Analysts had expected earnings of 72 cents per share on revenue of $1.11 billion.