The top after-market NASDAQ Stock Market gainers are: Ulta Salon, Cosmetics & Fragrance, Motricity, Nanometrics, Dyax, and Analogic. The top after-market NASDAQ Stock Market losers are: QuinStreet, Yongye International, Measurement Specialties, Corinthian Colleges, and STEC.
Ulta Salon, Cosmetics & Fragrance, Inc. (ULTA) stock jumped 13.69 percent to $56.40 in the after-market trading. Profit for the first quarter was $23.3 million or $0.37 per share, up from $13.7 million or $0.23 per share last year. Sales grew 20.6 percent to $386 million. Analysts had expected profit of $0.31 per share on revenue of $371.02 million. Comparable store sales, or sales from stores open at least for 14 months, improved 11.1 percent. For the second quarter, the company expects earnings of $0.31 to $0.33 per share and sales of $378 million to $384 million, while Street predicts profit of $0.30 per share on revenue of $376.75 million.
Motricity, Inc. (MOTR) stock grew 5.86 percent to $8.49 in the after-market trading.
Nanometrics Inc. (NANO) stock gained 5.18 percent to $17.45 in the after-market trading. Standard & Poor's, a subsidiary of The McGraw-Hill Companies Inc. (MHP), said Nanometrics will replace TradeStation Group, Inc. (TRAD) in the S&P SmallCap 600 index after the close of trading on June 9. Monex Group Inc. is acquiring TradeStation Group in a tender offer expected to be completed soon pending final approvals.
Dyax Corp. (DYAX) stock increased 4.76 percent to $2.20 in the after-market trading.
Analogic Corp. (ALOG) stock rose 3.32 percent to $52 in the after-market trading. Profit for the third quarter was $4.32 million or $0.35 per share, down from $4.84 million $0.38 per share last year. Adjusted profit was $6.7 million or $0.54 per share, up from $6.5 million or $0.51 per share last year. Revenue grew to $117.2 million from $105.5 million. Analysts had expected profit of $0.44 per share on revenue of $113.84 million. Analogic said its board, on June 1, declared a third quarter cash dividend of $0.10 per common share, payable on June 30, to shareholders of record on June 20.
QuinStreet, Inc. (QNST) stock plunged 21.34 percent to $11.54 in the after-market trading. The company expects full year 2011 revenue growth to come in at the top of the range of its average growth objective of 15 percent to 20 percent. The company expects generally flat year-over-year growth for fourth quarter of fiscal 2011 and first quarter of fiscal 2012. The company said it has completed its plan for fiscal 2012. For the fiscal 2012, the company projects revenue of $455 million to $475 million, or about 15 percent year-over-year growth at the mid-point, while Street predicts revenue of $479.96 million. The company expects 20 percent adjusted EBITDA margins for fourth quarter of fiscal 2011 and for full year fiscal 2012.
In the conference call, the company said it was seeing weaker demand from such clients as they cut spending on education budgets. Many for-profit educational institutions, which use the services of QuinStreet, have been hit by the U.S. Department of Education's (DOE) regulation on gainful employment that determines whether for-profit colleges qualify for federal student aid, according to a Reuters report. Many colleges were seen to be at risk of losing access to federal aid based on the proposals by the DOE which are expected to take effect on July 31, 2011. QuinStreet said the pricing environment has 'hardly improved' and was disappointed by its first-quarter growth which is expected to be flat.
Yongye International, Inc. (YONG) stock fell 4.84 percent to $4.52 in the after-market trading. Levi & Korsinsky said a class action lawsuit has been commenced in the United States District Court for the Southern District of New York on behalf of purchasers of Yongye International who purchased between August 11, 2010 and May 11, 2011. The complaint alleges that during the Class Period certain of the company's executive officers and directors issued materially false and misleading information regarding the company's financial condition and revenue. Specifically, the complaint alleges that during the Class Period, defendants failed to disclose that the company's financial results were inflated and were inconsistent with Yongye's production capabilities.
Measurement Specialties Inc. (MEAS) stock slid 4.45 percent to $34.38 in the after-market trading. Profit for the fourth quarter was $8.3 million or $0.53 per share, up from $4.2 million or $0.28 per share last year. Sales grew 28 percent to $76.77 million. Analysts had expected profit of $0.54 per share on revenue of $76.80 million for the fourth quarter. The company expects first quarter to be flat to fourth quarter and expects to resume consecutive quarterly growth in the second quarter. Given the strength of bookings and full-year forecast, the company remains confident in its annual organic growth target of 10 percent to 12 percent.
Corinthian Colleges Inc. (COCO) stock declined 3.84 percent to $4.51 in the after-market trading. For-profit colleges work to delay student loan defaults to maintain their eligibility for federal aid, which makes up as much as 90 percent of the companies’ revenue, Iowa Senator Tom Harkin told Bloomberg. For-profit colleges deliberately delay student defaults to comply with the rules, Harkin said in an Internet e-mail.
STEC, Inc. (STEC) stock decreased 2.65 percent to $16.15 in the after-market trading.