NetApp Inc Provides Disappointing Outlook, Shares Slump (NTAP, P, PVH)
NetApp Inc. (NASDAQ:NTAP) shares plunged 16.59% to $27.41 in the after hour trading after the company forecasted a weak outlook for the first quarter citing economic uncertainties and seasonal weakness. However, the company’s fourth quarter income grew 13% as the company posted stronger revenue in all three major businesses, led by its products segment.
The company posted fourth quarter net income of $181 million or $0.47 per share, as compared to $161 million or $0.40 per share last year. Revenues for the quarter totaled $1.7 billion, as compared to $1.43 billion in the same quarter last year. Adjusted earnings for the quarter were $252 million or $0.66 per share. Analysts expected earnings of $0.63 per share on revenue estimate of $1.68 billion for the quarter.
Looking forward, the company expects first quarter earnings in the range of $0.10 to $0.15 per share and adjusted earnings of $0.34 to $0.39 per share. Revenues are estimated to be between $1.4 billion and $1.5 billion. Analysts currently expect earnings of $0.59 per share on revenues of $1.61 billion for the first quarter.
Pandora Media Inc (NYSE:P) shares climbed 15.68% to $11.95 in the after hour trading even though the company’s first-quarter loss widened sharply owing to higher costs that offset strong growth in the company’s revenue. However, adjusted loss wasn’t as bad as feared and revenue topped expectations.
The company reported a first quarter loss of $20.2 million, as compared with a year-earlier loss of $6.8 million. On a per-share basis, the loss narrowed to $0.12 a share from $0.61 a share as the company’s shares outstanding increased sharply. Adjusted loss expanded to $0.09 a share. Revenue surged 58% to $80.8 million. Analysts expected loss of $0.18 per share on revenues of $74.34 million for the quarter.
Looking ahead, the company expects second quarter adjusted loss in a range of $0.03 to $0.05 per share, and revenues of $99 million to $101 million. Analysts currently estimate loss of $0.03 per share on revenues of $99.91 million for the second quarter.
PVH Corp (NYSE:PVH) shares climbed 3.71% % to $80.24 in the after hour trading after the company reported first-quarter net income of $93.1 million or $1.27 per share, as compared to $57.7 million or $0.79 per share in the same quarter last year. Adjusted net income for the quarter was $95.5 million or $1.30 per share. Total revenues grew to $1.43 billion from $1.37 billion in the year ago period. Analysts expected earnings of $1.26 per share on revenues of $1.40 billion for the quarter.
Looking forward, the company expects second quarter non-GAAP earnings in a range of $1.18 to $1.20 per share and revenue in 2012 is currently projected to be relatively flat as compared to the prior year’s second quarter amount of $1.334 billion. Analysts currently expect earnings of $1.17 per share and revenue of $1.35 billion for the quarter.