Shares of Ambarella Inc. (AMBA, Financial) 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. (NCS, Financial) advanced more than 7% after reporting second-quarter earnings per share of 25 cents on revenue of $457.07 million. The company beat earnings estimates by 7 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. (VRA, Financial) 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.
