Gentex Slumps After Earnings (GNTX, PENN, SQNM, CRRC, SWK, NAV)
Gentex Corporation (NASDAQ:GNTX) plunged 14.83% to $21.65 after the Company released first quarter results. Net sales increased 16% to $290.7 million. Net income increased 9% to $46.3 million in the first quarter of 2012 primarily due to increased net sales and gross profit. Earnings per diluted share were 32 cents in the first quarter of 2012 compared with 29 cents per share in the first quarter of 2011.
Penn National Gaming Inc (NASDAQ:PENN) soared 2.98% to $44.59. The Company reported first EPS of $0.73, beating the analyst estimate of $0.59. Revenue for the quarter was $736.1 million versus the consensus estimate of $699.85 million.
Sequenom Inc (NASDAQ:SQNM) jumped up 12.09% to $4.82. The Company has entered into a national agreement with MultiPlan. Under this expanded agreement, Sequenom’s participation in the PHCS and MultiPlan networks will now include its Center for Molecular Medicine’s MaterniT21 PLUS(TM) laboratory-developed test.
Courier Corporation (NASDAQ:CRRC) increased 9.76% to $10.46 after the Company declared second quarter results. Revenues were $62.4 million compared to $62.7 million in the prior year period. Net income was $440,000 or $.04 per diluted share versus net loss of $4.8 million or $.40 per diluted share in the prior year quarter. The Company expects sales to be between $271 million and $282 million for fiscal 2012. The Company anticipates earnings per diluted share to be in the range $.80 and $1.05 for fiscal year 2012.
The Company declared a dividend of 21 cents per common share, payable on May 25, 2012.
Stanley Black & Decker Inc (NYSE:SWK) decreased 5.72% to $73.98. The Company posted first quarter profit of $121.8 million or 72 cents per share versus $158.7 million or 92 cents per share in the prior year period. Revenue increased 12% to $2.65 billion. However, analysts expected earnings of $1.13 per share on revenue of $2.64 billion.
Navistar International Corporation (NYSE:NAV) slipped 3.30% to $35.71. Wells Fargo & Co lowered the rating on the stock from outperform to market perform.