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APAC Customer Services (Nasdaq: APAC) Trading at $5.25, Up 40%. Announced Tuesday after market close financial results for its first fiscal quarter ended March 29, 2009. Revenue for the 2009 first quarter rose 15.3% to $73.2 million from $63.5 million in the 2008 first quarter. Gross profit for the 2009 first quarter was $18.6 million, or 25.3%, compared to $7.8 million, or 12.2%, in the prior year period.
The company reported net income of $10.6 million, or $0.20 per diluted share, compared to a net loss of $4.0 million, or $0.08 per diluted share, in the prior year quarter, which included $2.3 million in restructuring and other charges. The company does not expect to owe any federal income tax in 2009 due to its net operating loss carryforward and other tax credits. First quarter 2009 adjusted EBITDA was $13.6 million compared to $2.7 million in the 2008 first quarter.
What They Do: APAC Customer Services is a leading provider of customer care services and solutions for market leaders in healthcare, business services, publishing, communications, travel and entertainment and financial services industries.
True Religion Apparel (Nasdaq: TRLG) Trading at $21.70, Up $21%. Announced Tuesday after market close financial results for the first quarter ended March 31, 2009. Total net sales were $63.6 million, an increase of 19.1% from $53.4 million in the first quarter of 2008. Gross profit was $38.7 million, or 60.9% of net sales, compared to $30.5 million, or 57.1% of net sales, in the first quarter of 2008. The overall improvement in gross margin was due to the ongoing segment mix shift toward the Company’s higher-margin consumer direct business.
Net income increased 9.8% to $7.6 million, or $0.32 per diluted share based on weighted average shares outstanding of 24.0 million, from $6.9 million, or $0.29 per diluted share based on weighted average shares outstanding of 24.1 million, in the 2008 first quarter.
What They Do: True Religion Apparel, Inc. is a growing, design-based jean and jean-related brand. The company designs, manufactures and markets True Religion Apparel products, including its premium True Religion Brand Jeans.
ArvinMeritor (NYSE: ARM) Trading at $2.53, Up 55%. Announced Tuesday after market close financial results for its second fiscal quarter ended March 31, 2009. For the second quarter of fiscal year 2009, ArvinMeritor posted sales from continuing operations of $1.1 billion, a decrease of approximately 38 percent from the same period last year. This decrease is primarily due to significantly lower production volumes in most original equipment markets globally.
EBITDA, before special items, was $36 million, down $68 million from the same period last year. The unfavorable impact of lower sales on EBITDA was partially offset by aggressive cost reduction efforts and demand for specialty and aftermarket products, driven by the company's military contracts and expanding remanufacturing business. Also impacting EBITDA in the second quarter of fiscal year 2009 was a favorable one-time adjustment of $12 million resulting from the elimination of substantially all variable incentive compensation.
Loss from continuing operations, before special items, was $9 million, or $0.12 per diluted share, compared to income from continuing operations, before special items of $27 million, or $0.37 per diluted share, in the same period last year. Special items for the quarter primarily reflect $56 million of pre-tax restructuring charges.
What They Do: ArvinMeritor, Inc. is a premier global supplier of a broad range of integrated systems, modules and components to the motor vehicle industry.
Acorda Therapeutics (Nasdaq: ACOR) Trading at $24.67, Up 26%. Today announced that the U.S. Food and Drug Administration (FDA) has accepted the Fampridine-SR New Drug Application (NDA) for filing, assigning Priority Review and a Prescription Drug User Fee Act (PDUFA) date of October 22, 2009. The PDUFA date is the target date for the FDA to complete its review of the Fampridine-SR NDA.
What They Do: Acorda Therapeutics is a biotechnology company developing therapies for spinal cord injury, multiple sclerosis and related nervous system disorders.
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