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Omar Venerio
Omar Venerio
Articles (1422) 

3 Stocks Move Wednesday

Ambarella, NCI Building Systems and Vera Bradley impacted by earnings

June 06, 2018 | About:

Shares of Ambarella Inc. (NASDAQ:AMBA) fell more than 13% on Wednesday after the company reported first-quarter 2019 earnings per share of 13 cents on revenue of $56.9 million on Tuesday evening. The company beat earnings estimates by 4 cents and revenue expectations by $760,000.

In the first quarter, the company repurchased a total of 437,448 shares for $20.6 million.

The guidance for the second quarter is revenue between $60 million and $64 million, a non-GAAP gross margin between 59% and 61% and non-GAAP operating expenses between $32 million and $33.5 million.

NCI Building Systems Inc. (NYSE:NCSadvancemore than 7% after reporting second-quarter earnings per share of 25 cents on revenue of $457.07 million. The company beat earnings estimates by cents and revenue expectations by $19.16 million. The company attributed the revenue increase to continued commercial discipline in the passthrough of higher material costs across the segments.

The company's gross profit was $104.1 million, or 22.8% of sales, compared to $100.8 million, or 24% of sales, in the prior-year quarter.The gross profit margin was 22.8%, compared to 24% in the year-ago quarter and increased 100 basis points from the first quarter of fiscal 2018.

Looking ahead to the third quarter, NCI expects revenue in the range of $525 million to $545 million and adjusted earnings before interest, taxes, deprecitation and amortization to range from $56 million to $66 million.

Vera Bradley Inc. (NASDAQ:VRA)advanced on the heels of the company reporting financial results for the first quarter. The company posted a loss of 4 cents per share, which was 6 cents higher than expectations. Revenue of $86.59 million declined 9.9% from the prior-year quarter and fell $1.66 million short of estimates.

Disclosure: The author holds no positions in any stocks mentioned.

About the author:

Omar Venerio
Omar Venerio is a capital markets, derivatives, corporate finance and financial management professor. He is passionate about the stock market and providing independent fundamental research and hedge fund and insider trading-focused investigation.

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