(By Salman - iStockAnalyst Writer)
Late on Thursday, specialty retailer Aeropostale (NYSE: ARO) announced that its fourth-quarter net income rose to $68.2 million, or $1.01 a share, from $64.7 million, or 95 cents a share, in the year ago quarter. Revenue climbed to $690 million from $591.3 million. Analysts on average had expected earnings of $1 a share on revenue of $681.7 million. Looking ahead to the first quarter, the company expects to earn in the range of 22 cents to 24 cents a share. Chairman and CEO Julian R. Geiger commented "We are extremely pleased with our record fourth quarter performance and our strong finish to fiscal 2008. The ongoing strength of our merchandise assortment, coupled with our powerful promotions, led to another record quarter and another record year. Throughout the year we have maintained strong brand momentum and we have executed consistently on our strategies to meet our corporate goals. “Moving into fiscal 2009, we are well positioned to continue building upon our significant accomplishments from last year. We are very pleased with the initial customer reaction to our spring merchandise assortment. We look forward to expanding the Aeropostale brand, both domestically and internationally, while also launching our new concept. We are very proud of the achievements we have made in our business, and we look forward to maximizing our opportunities in the coming year." Shares of the company fell over 4% in extended trading.
Dendreon Corp. (NASDAQ: DNDN) reported that its fourth quarter loss narrowed to $8.84 million, or 9 cents a share, compared to a loss of $26.95 million, or 32 cents a share, in the prior year quarter. Revenue for the quarter remained flat at $28,000. Analyst on average had forecast a loss of 20 cents a share for the quarter on revenue of $30,000 thousand for the quarter. Dendreon Corp. rose 4.09 in post-market trading.
Internap Network Services Corp. (NASDAQ: INAP) said that it swung to a fourth quarter loss of $0.9 million or 2 cents a share, compared to profit of $5.4 million, or 11 cents a share, in the comparable quarter last year. Revenue rose to $64.2 million from $61.6 million. Quarterly Revenue rose to $64.2 million from $61.6 million. Analysts on average estimated earnings of 4 cents a share on revenue of $67.13 million on revenue of $67.13 million. President and Chief Executive Officer Jim DeBlasio said in a statement "Despite a tough economic environment, Internap grew revenue, generated significant cash, and substantially completed the largest organic data center expansion in the company's history in 2008." He added "With very little debt and ample cash, the company has a strong balance sheet and continues to be on a solid financial foundation as we enter 2009."
MYR Group Inc. (NASDAQ: MYRG) posted fourth quarter profit of $7.6 million or 37 cents a share, compared to a net loss of $11.8 million, or 70 cents a share, in the fourth quarter of 2007.
