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Shutterfly, Inc. (Nasdaq: SFLY) $34.31. Today announced financial results for the fourth quarter and full-year ended December 31, 2010. "Our strategic investments throughout 2010, combined with our focus on strong execution, innovation and improved efficiencies led to record revenues, profits, and free cash flows" said President and Chief Executive Officer Jeffrey Housenbold. "We continue to outpace the industry in terms of innovation, user experience, on-trend designs, quality, and customer service. With the social expression and personal publishing markets still in the early stages, Shutterfly will focus on extending our leadership position in these large markets throughout 2011."
Fourth Quarter 2010 net revenues increase 27% year-over-year to $166.2 million. Full Year 2010 net revenues increase 25% year-over-year to $307.7 million. Fourth Quarter GAAP net income of $1.09 per diluted share. Record Full Year Adjusted EBITDA of $67.1 million, representing 21.8% of net revenues. Record Full Year Free Cash Flows of $44.7 million.SGI (Nasdaq: SGI) $10.90. Today announced financial results for its second quarter of fiscal 2011. "SGI delivered the best quarter in its history. These record results underscore the success of our product strategy and execution, focus on operational excellence and commitment towards profitability," said SGI CEO Mark J. Barrenechea. "Given our business trends are improving, we are raising our FY11 non-GAAP revenue guidance and we expect to be profitable."
GAAP revenue of $177.5 million; Non-GAAP revenue of $185.9 million. GAAP gross margin of 29.5%; on-GAAP gross margin of 30.1%, GAAP EPS of $0.12; Non-GAAP EPS of $0.44, Raising guidance to reflect improving business trends.
What They Do: SGI is focused on helping customers solve their most demanding business and technology challenges.
Spartan Stores (Nasdaq: SPTN) $15.08. Today announced financial results for its 16-week third quarter ended January 1, 2011.
Consolidated net sales for the 16-week third quarter were $782.3 million compared with $786.9 million in the same period last year. The slight decline in consolidated net sales was due primarily to lower supermarket sales, substantially offset by higher fuel center and distribution segment sales.
Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization (Adjusted EBITDA) for the quarter were $25.7 million, or 3.3 percent of net sales, equivalent to the percentage of net sales in the year-ago period.
Third quarter operating earnings were $16.6 million compared with $13.7 million in the year-ago period. Excluding non-cash income of $2.4 million this year and a non-cash $0.7 million charge last year, adjusted third quarter operating earnings were $14.2 million compared with $14.4 million in the previous year. The third quarter benefit related primarily to lease terminations and curtailment income resulting from the restructuring of the Company’s retirement plans, partially offset by asset impairment charges. Last year’s third quarter pretax charge related to store closures.
What They Do: Spartan Stores is the nation’s eleventh largest grocery distributor with 1.4 million square feet of warehouse, distribution, and office space located in Grand Rapids, Michigan. The Company distributes more than 40,000 corporate and national brand products to approximately 370 independent grocery stores in Michigan, Indiana and Ohio, and to our 97 corporate owned stores located in Michigan, including Family Fare Supermarkets, Glen’s Markets, D&W Fresh Markets and VG’s Food and Pharmacy.
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