After-Hours Movers 5/18: HIMX, TRID, KLIC Higher; APP, MHO, PVA, ENP, IVZ Lower

May 18, 2009 5:18 PM EDT

American Apparel (NYSE: APP) 20.1% LOWER; reports Q1 loss of $0.13, versus the analyst estimate of ($0.05) and compared to a gain of $0.02 in the same quarter last year. Revenue for the quarter was $114.3 million, versus the consensus of $117.50 million. Same store sales fell 7% during the quarter. Sees FY09 sales of $550-$575 million, which compares to the Street estimate of $576.75 million, with income from operations of $40-$50 million. American Apparel is evaluating its classification of its revolving credit facility as a long-term obligation, and certain other balance sheet and cash flow presentation matters, which may result in a restatement of previously issued financial statements.

Himax Technologies (Nasdaq: HIMX) 16.2% HIGHER; reports Q1 EPS of $0.04, in-line with the analyst estimate of $0.04. Revenue for the quarter was $125.7 million, versus the consensus of $139.05 million. Sees Q2 sales up 52-55%, with gross margin flat and GAAP EPS in the range of $0.07-$0.09. The Street is currently expecting Q2 EPS $0.06.

Trident Microsystems, Inc. (Nasdaq: TRID) 9.2% HIGHER; sees Q4 sales of $15-$18 million, with a non-GAAP operating loss of $15-$17 million. The company expects to end the quarter with a cash balance of about $177-$182 million. The Street is currently looking for Q4 sales of $6.67 million.

Kulicke & Soffa Industries Inc. (Nasdaq: KLIC) 9% HIGHER; raises its Q3 sales guidance from $32-$37 million to $40-$45 million, which compares to the Street estimate of $34.85 million. Scott Kulicke, Chairman and CEO, commented, “The increase in customer activity that we saw near the end of our second quarter of 2009 is continuing into our third quarter. Improvement is being seen across all areas of our business, particularly in expendable tools and ball bonders.”

M/I Homes, Inc. (NYSE: MHO) 7.1% LOWER; announced today a proposed public offering of 4,000,000 of its common shares. All shares are being offered by M/I Homes, Inc. The Company will grant the underwriters an option to purchase up to an additional 600,000 common shares to cover over-allotments, if any. M/I Homes plans to use the proceeds received from this offering for general corporate purposes.

Penn Virginia Corporation (NYSE: PVA) 6.9% LOWER; announced today a registered underwritten public offering of 3,500,000 shares of its common stock. The underwriters will have up to 30 days to purchase up to 525,000 additional shares of its common stock. Net proceeds from the offering are expected to be used to pay down a portion of the outstanding borrowings under PVA's revolving credit facility and for general corporate purposes. J.P. Morgan Securities Inc. and RBC Capital Markets Corporation are acting as joint book-running managers for the offering.

Encore Energy Partners LP (NYSE: ENP) 6.7% LOWER; announced today that it has entered into an agreement with an independent energy company to purchase natural gas producing properties in the Vinegarone Field in Val Verde County, Texas for $28 million in cash, subject to customary purchase price adjustments and closing conditions. In addition, the Partnership entered into an agreement with Encore Acquisition Company (NYSE: EAC) to purchase oil and natural gas producing properties in the Williston Basin for $25.8 million in cash, subject to customary purchase price adjustments and closing conditions. Will also offer 2.4 million common units.

Invesco Ltd. (NYSE: IVZ) 5.9% LOWER; today announces it has commenced a registered public offering for $400,000,000 of additional common shares. Invesco intends to use the net proceeds from the sale of the common shares for general corporate purposes, which may include, among other options, support for continued growth, new product initiatives and diversification of the company, and repayment of outstanding indebtedness.

Medis Technologies Ltd. (Nasdaq: MDTL) 5.7% LOWER; reports Q1 loss of $0.37, compared to a loss of $0.42 in the same quarter last year.

AirMedia Group Inc. (Nasdaq: AMCN) 5.1% LOWER; reports a Q1 loss of $0.02, 4 cents worse than estimates. Revenues were US$32.8 million vs. $31.67 million consensus. Sees Q2 sales of $36.0-$38.0 million vs. consensus of $38.82 million.

Genoptix Inc. (NASDAQ: GXDX) 4.3% HIGHER; will replace Provident Bankshares Corp. (NASDAQ: PBKS) in the S&P SmallCap 600 after the close of trading on a date to be announced.

Regal-Beloit Corp. (NYSE: RBC) 4.3% LOWER; filed to offer 3,500,000 shares on common stock. The underwriters can purchase up to an additional 525,000 shares to cover over-allotments. Robert W. Baird is leading the offering.

Bank of the Ozarks Inc. (NASDAQ: OZRK) 3.6% HIGHER; will replace Flagstar Bancorp Inc. (NYSE: FBC) in the S&P SmallCap 600 after the close of trading on Tuesday, May 26.

BMP Sunstone Corporation (Nasdaq: BJGP) 2.7% HIGHER; reports Q1 non-GAAP EPS of $0.07, 8 cents better than the analyst estimate of ($0.01) and compared to breakeven earnings during the same quarter last year. Revenue for the quarter was $39.3 million, versus the consensus of $23.88 million. Reiterates its FY09 outlook: sees sales up at least 35% to $150-$160 million, which compares to the Street estimate of $154.52 million. EBITDA is expected to reach $16-$18 million, and non-GAAP net income is expected to reach $9-$11 million.

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