WuXi PharmaTechJumps On Solid Earnings (PKT, WX, RLJ, AERL, COMV)
Procera Networks, Inc. (NASDAQ:PKT) fell 0.60% to $18.90 after the company recorded a first quarter profit of $579,000, or $0.04 a share, as compared with a year-earlier loss of $230,000 or, $0.02 a share. Adjusted per-share earnings rose to $0.13 from a penny. Analysts had forecast earnings of 3 cents a share. Revenue jumped 78% to $12.3 million, slightly above the $12 million estimate from analysts.
WuXi PharmaTech (Cayman) Inc. (ADR) (NYSE:WX) shares increased 9.69% to $14.71 after the company reported first-quarter net income of $20.99 million from $18.22 million in the year ago quarter. Net earnings per ADS rose to $0.28 from $0.24 in the prior year quarter. First-quarter 2012 non-GAAP net income grew 14.5% year over year to $24.5 million. Non-GAAP earnings per ADS for the quarter grew 15.1% to $0.33 from $0.29 last year. Net revenues increased 26.2% year over year to $118.03 million. Analysts expected the company to report earnings of $0.27 per share on revenues of $114.20 million for the quarter.
RLJ Lodging Trust (NYSE:RLJ) reported first-quarter Funds from operations or FFO of $27.0 million, as compared to $16.5 million in the year ago quarter. Adjusted FFO for the quarter was $28.53 million or $0.27 per share. Net loss narrowed to $6.5 million from $16.1 million in prior year period. Loss per share for the current first quarter was $0.06. Total revenues increased to $183.19 million from $168.17 million in the prior year quarter. Analysts expected the company to report a loss of $0.11 per share on revenue of $178.94 million for the quarter.
Asia Entertainment & Resources Ltd. (NASDAQ:AERL) reported a first quarter net income of $15.3 million, or $0.36 per share (fully diluted), as compared to $12.9 million, or $0.37 per share (fully diluted) in the same period of 2011. Non-GAAP income was $18.4 million, or $0.43 per share (fully diluted), an 11% increase as compared to income of $16.5 million or $0.48 per share (fully diluted) in the year ago period.
Looking forward, the company reconfirmed fiscal 2012 Non-GAAP income guidance to be in between $88-$95 million.
Comverge, Inc. (NASDAQ:COMV) reported a first quarter revenues of $32.6 million, as compared to $18.6 million in the first quarter of 2011. Net loss for the first quarter of 2012 was $2.7 million, or $0.10 per basic and diluted share, compared to a net loss of $9.8 million, or $0.39 per basic and diluted share for the first quarter of 2011.
Additionally, Comverge, Inc and H.I.G. Capital, LLC, announced the satisfaction of the minimum condition of the tender offer for all of the outstanding shares of common stock of Comverge by Peak Merger Corp. and Peak Holding Corp., both affiliates of H.I.G., for $1.75 per share in cash, without interest and less any applicable withholding taxes. The offering period expired on May 9, 2012.