Wednesday, September 5, 2012

Hi-Tech Pharmacal Gapped Down (GIII, HITK, FDX, AN, HBI)

G-III Apparel Group, Ltd. (NASDAQ:GIII) reported second-quarter net income of $1.4 million, or $0.07 per share from $1.6 million, or $0.08 per share, in the same quarter last year. Adjusted non-GAAP net income per share for the second quarter was $0.13. Net sales increased to $251.48 million from $229.97 million in the same period last year. Analysts expected the company to report second-quarter profit per share of $0.07 on revenue of $254.10 million.

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Hi-Tech Pharmacal Co. (NASDAQ:HITK) stock declined 13% to $31.85 after the company posted first quarter net income of $6 million or $0.44 per share from $13.77 million or $1.05 per share in the same period in the prior year. Net sales slid 7% to $52.04 million from $56.21 million in the prior year. Analysts expected earnings of $0.80 per share on revenues of $58.44 million.

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FedEx Corporation (NYSE:FDX) shares fell 2.90% to $85 in pre-market hour after the company projected its first decline in quarterly earnings in almost three years as slowing economic growth hurt demand for the express packages that provide most of its sales. The company said that profit for the quarter that ended Aug. 31 will range from $1.37 to $1.43 a share.

AutoNation, Inc. (NYSE:AN) announced that it will release its financial results for the third quarter ended September 30, 2012 on Thursday, October 25, 2012. Mike Jackson, Chairman and Chief Executive Officer, Mike Maroone, President and Chief Operating Officer, and Mike Short, Executive Vice President and Chief Financial Officer, will discuss these results and other information regarding the Company during a conference call and audio webcast that same day at 11:00 a.m. Eastern Time.

Additionally, the company said new vehicle sales to retail customers increased 28% in August. The company’s sales in its import segment soared 42% to 12,530 units while domestic sales rose 20% to 6,961 units.

Hanesbrands Inc. (NYSE:HBI) reconfirmed fiscal 2012 guidance and said it expects earnings per diluted share (EPS) to be in the range of $2.50 to $2.60, net sales of $4.52 billion to $4.57 billion, and free cash flow of $400 million to $500 million. Analysts are expecting the company to report EPS of $2.55 on revenue of $4.53 billion for fiscal 2012.

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