While the official earnings season has already ended, many companies still released their quarterly earnings reports Monday.
AEP Industries (AEPI), a manufacturer of plastic packaging films, reported a 19% increase in its second quarter revenues to $297 million. Growth in revenues was driven by the acquisition of Webster Industries. Net income came in at $4.8 million, or $0.87 per share, versus a loss of $0.7 million last year. The company expects a steady increase in operating earnings in the coming quarters on the back of synergies from the Webster deal. Shares in AEP Industries rose 3.8% in Monday's session, marking year to date returns of 29%.
Finisar (FNSR), the provider of optical subsystems and components for short distance local area networks, reported its fourth quarter results Monday. The company reported quarterly revenues of $240 million, down 1.3% compared to the third quarter as a result of sluggish carrier expenditure levels and annual price reductions going into effect. The company reported earnings per share of $0.14 for the final quarter. Shares fell 9.5% in Monday's trading session on the back of a weak outlook for the first quarter of its fiscal 2013. Finisar expects first quarter revenues between $218 million and $233 million and non-GAAP diluted earnings per share of between $0.11 and $0.15. Shares have fallen 20% year to date.
Synergetics USA (SURG), the supplier of precision surgical devices, reported its third quarter results on Monday. Expectations have already been lowered after the company lowered the outlook for the quarter at the end of May. The warning prompted a massive sell off in the company's shares. Monday, Synergetics reported a 0.7% decline in its quarterly sales to $14.6 million. Domestic sales increased 9% while international sales fell 21%. As a result of the sluggish revenue developments GAAP earnings per share fell to $0.04. Shares in Synergetics ended the day 1.7% higher as the company was encouraged by a solid start of the fourth quarter. Year to date shares are down 42%.
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.