Summer Infant, Inc. (NASDAQ:SUMR) stock slumped 24% to $3.23 in the after hour trading after the company posted a quarterly loss as retailers delayed purchases from the company, and the company withdrew its forecast for the year.
The company reported a second-quarter net loss of $424,000 or $0.02 per share, as compared to the net income of $921,000 or $0.05 per share in the comparable quarter last year. Net revenues for the latest quarter rose to $61.7 million from $61.0 million in the same quarter last year. Analysts expected the company to earn $0.09 per share on revenues of $63.67 million for the quarter.
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Looking forward, the company had cut its full-year profit outlook to $0.45 a share in May after slowing demand for its babycare products had forced it to spend more on promotions.
Further, the company said it has begun lowering promotional costs and advertising, among other things, and expects to benefit in the second half of the year.
Groupon Inc (NASDAQ:GRPN) shares plunged 19.74% to $6.06 in the after hour trading after the company saw its core online coupon business ran into difficulties in the second quarter, while its less-profitable discount retail business grew in prominence.
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The company reported second-quarter net income of $28.4 million, or $0.04 per share, as compared to a net loss of $107.4 million, or a loss per share of $0.35 in the second quarter 2011. Non-GAAP earnings were $53.8 million, or $0.08 per share, as compared to a net loss of $68.7 million, or loss per share of $0.23 in the same period last year. Revenue increased 45% year-over-year to $568.3 million, as compared with $392.6 million in the second quarter 2011. Analysts expected the company to report earnings of $0.03 per share on revenues of $573.13 million for the quarter.
Looking forward, the company expects third quarter 2012 revenue to be between $580 million and $620 million. Income from operations is expected to be between $15 million and $35 million. Analysts on an average are expecting the Company to report revenue of $605 million and net income of $31 million for the third quarter of 2012.