Spreadtrum Pops On Up On Solid Earnings (SPRD, POWI, BAGL, LF, BODY)
Spreadtrum Communications Inc (ADR) (NASDAQ:SPRD) jumped up 17.42% to $15.81. The Company reported first quarter net income of $24.3 million or $0.47 per ADS compared to $27.5 million or $0.50 per ADS in the prior year quarter. However, analysts expected the Company to report earnings of $0.39 per share for the first quarter. Total revenue for the quarter increased 17.5% to $161.1 million. Total operating expenses declined 19.9% to $29.21 million.
Power Integrations Inc (NASDAQ:POWI) surged up 14.73% to $42.69. The Company posted first quarter non-GAAP net income of $0.36 per share compared to $0.40 per share in the prior year period. The consensus estimate for EPS was $0.27.
Einstein Noah Restaurant Group Inc (NASDAQ:BAGL) jumped up 14.53% to $16.08. The Company reported first quarter net income of $3.20 million or $0.19 per share compared to $1.17 million or $0.07 per share in the prior year quarter. Total revenues rose 3.6% to $104.87 million. However, analysts expected the Company to earn $0.11 per share for the quarter on revenues of $105.74 million.
The Board of Directors has declared a quarterly cash dividend of $0.125 per share, payable on July 15, 2012.
LeapFrog Enterprises Inc (NYSE:LF) climbed up 13.92% to $10.23 after the Company announced first quarter results. Net sales increased 81% to $72 million driven by lower retail inventory. Gross profit was $30 million for the quarter, up 153% from a year ago. Loss from operations improved 61% to $9 million.
The Company expects net sales to increase by 10% to 13% in fiscal year 2012.
Body Central Corp (NASDAQ:BODY) among the losers and the stock declined 44.47% to $16.06. The Company reported first quarter net income of $5.9 million or $0.36 per share compared to net income of $5.4 million or $0.34 per share in the first quarter of 2011. Net revenues for the quarter increased 11.8% to $82.7 million. Store sales rose 12.0% to $70.9 million due to net store unit growth of 13.6%.
The Company expects earnings to be in the range 26 to 28 cents per share on revenue of $80 million to $82 million in the second quarter of 2012.