In Tuesday trading, shares of Vipshop Holdings Ltd. (VIPS, Financial) fell about 17% after reporting first-quarter earnings of 17 cents on revenue of $3.2 billion, up 24.7% year-over-year. The company managed to beat revenue estimations by $120 million but fell short of earnings estimates by 1 cent.
The number of active customers for the trailing 12 months ended March 31, 2018 was 56.6 million, as compared with 55.5 million in the prior-year period.
Gross profit for the first quarter of 2018 increased by 8.5% to RMB4.0 billion (US$639.2 million) from RMB3.7 billion in the prior-year period. Gross margin reached 20.2% as compared with 23.2% in the prior-year period.
The company continues to deploy money into promotional activities to drive growth.
Looking ahead, the company expects for the second quarter of 2018, total net revenue to be between RMB20.5 billion and RMB21.3 billion, a year-over-year growth rate of 17% to 22%.
Shares of Famous Dave's of America Inc. (DAVE, Financial) fell more than 1% on Tuesday trading after reporting earnings per share of 13 cents in the first quarter, which beat estimates by 6 cents. Revenue of $12.84 million was 24.2% lower than the comparable period a year earlier, and fell short of estimations by $59,000.
The decrease in company-owned net restaurant sales revenue was due to the closure of 12 company-owned restaurants. This partially offset the 5.2% increase in same-store sales.
LightPath Technologies Inc. (LPTH, Financial) jumped after reporting third-quarter earnings per share of 4 cents on revenue of $8.5 million. Both figures beat expectations by 2 cents in earnings and by $90,000 on revenue.
Bookings in the third quarter of fiscal 2018 increased by 50% to $9.2 million from $6.1 million in the prior-year period.
Jim Gaynor, president and CEOÂ of LightPath, said: “Our third quarter fiscal 2018 results demonstrate the success achieved in our efforts to diversify our business and the areas where we can expect to deliver meaningful growth going forward. As expected, in the third quarter of fiscal 2018, revenues generated by our infrared products surpassed revenue generated by our precision molded optics (“PMO”) products.”
Disclosure: The author holds no position in any stocks mentioned.
