After-Hours Movers 04/03: (NOOF) (MIND) Higher; (SNDK) (HOV) (TISI) (WPZ) Lower
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New Frontier Media, Inc. (Nasdaq: NOOF) 19% HIGHER; today announced that the Special Committee of the Board of Directors of New Frontier Media has retained Avondale Partners, LLC, a nationally recognized full service investment banking firm, as its financial advisor to examine and consider a broad range of strategic alternatives.
Mitcham Industries, Inc. (NASDAQ: MIND) 10% HIGHER; reported Q4 EPS of $0.77, $0.20 better than the analyst estimate of $0.57. Revenue for the quarter came in at $37 million versus the consensus estimate of $30.15 million. Sees FY12 EPS of about $2.02 on sales of about $112.8 million. The Street is currently expecting FY12 EPS and sales of $1.92 and $106.87 million, respectively.
SanDisk (Nasdaq: SNDK) 6.9% LOWER; lowers its Q1 sales outlook from $1.3-$1.35 billion previously to about $1.2 billion, which compares to the Street estimate of $1.34 billion. Sees total gross margin below its previously-issued 39-42 percent range. The company cited weaker pricing and demand.
Hovnanian Enterprises, Inc. (NYSE: HOV) 6.9% LOWER; announces the commencement of a registered underwritten public offering of Class A Common Stock. The offering is anticipated to consist of the issuance of 25,000,000 shares of the Company's Class A Common Stock. In addition, the Company intends to grant the underwriters a 30-day option to purchase up to an additional 15% of the shares of Class A Common Stock sold to cover over-allotments.
Team, Inc. (NASDAQ: TISI) 3.7% LOWER; reported Q3 EPS of $0.17, ex-items, $0.01 worse than the analyst estimate of $0.18. Revenue for the quarter came in at $136.5 million versus the consensus estimate of $127.53 million. Team, Inc. reaffirmed FY2012 guidance.
Williams Partners LP (NYSE: WPZ) 3.5% LOWER; announces a public offering of 9 million common units.
Hansen Medical (Nasdaq: HNSN) 2.6% LOWER; filed a registration with the U.S. Securities and Exchange Commission to sell, from time to time, up to $75 million of Debt Securities, Common Stock, Warrants, or any combination thereof.
Mitcham Industries, Inc. (NASDAQ: MIND) 10% HIGHER; reported Q4 EPS of $0.77, $0.20 better than the analyst estimate of $0.57. Revenue for the quarter came in at $37 million versus the consensus estimate of $30.15 million. Sees FY12 EPS of about $2.02 on sales of about $112.8 million. The Street is currently expecting FY12 EPS and sales of $1.92 and $106.87 million, respectively.
SanDisk (Nasdaq: SNDK) 6.9% LOWER; lowers its Q1 sales outlook from $1.3-$1.35 billion previously to about $1.2 billion, which compares to the Street estimate of $1.34 billion. Sees total gross margin below its previously-issued 39-42 percent range. The company cited weaker pricing and demand.
Hovnanian Enterprises, Inc. (NYSE: HOV) 6.9% LOWER; announces the commencement of a registered underwritten public offering of Class A Common Stock. The offering is anticipated to consist of the issuance of 25,000,000 shares of the Company's Class A Common Stock. In addition, the Company intends to grant the underwriters a 30-day option to purchase up to an additional 15% of the shares of Class A Common Stock sold to cover over-allotments.
Team, Inc. (NASDAQ: TISI) 3.7% LOWER; reported Q3 EPS of $0.17, ex-items, $0.01 worse than the analyst estimate of $0.18. Revenue for the quarter came in at $136.5 million versus the consensus estimate of $127.53 million. Team, Inc. reaffirmed FY2012 guidance.
Williams Partners LP (NYSE: WPZ) 3.5% LOWER; announces a public offering of 9 million common units.
Hansen Medical (Nasdaq: HNSN) 2.6% LOWER; filed a registration with the U.S. Securities and Exchange Commission to sell, from time to time, up to $75 million of Debt Securities, Common Stock, Warrants, or any combination thereof.
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