Shares of Globe Specialty Metals Inc. (NASDAQ: GSM), a producer of silicon metal and silicon-based alloys, are soaring in trading today.
At last check, GSM shares were trading 8.35% higher at $15.32 on volume of 349,548. The stock gained 13.87% in the last three trading sessions.
GSM shares are soaring today after the company reported its fourth-quarter and fiscal 2012 financial results. For the fourth quarter, GSM reported net income of $12.9 million, representing an increase 5% over the previous quarter.
GSM’s fourth quarter EBITDA rose 10% on a sequential basis to $32.5 million.
Net income for the full fiscal year rose 3% to $54.6 million. The company reported record EBITDA of $129.1 million for fiscal year 2012, representing an increase of 7% over fiscal year 2011.
Net sales for the fiscal year 2012 were $705.5 million, representing an increase of 10% over fiscal 2011. Shipments for the year were 233,102 MT.
Shares of Medtronic Inc. (NYSE: MDT), a medical technology company, are marginally lower in trading today.
At last check, MDT shares were down 0.31% to $41.32 on volume of 1.95 million. The stock touched a new 52-week high of $41.79 earlier in the day.
MDT today reported its first-quarter financial results. For the quarter ended July 27, 2012, the Minneapolis-based company reported revenue of $4.008 billion, representing an increase of 5% over the same period in the previous year.
MDT’s first-quarter net earnings were $864 million, or $0.83 per share, representing an increase of 5% and 85%, respectively, over the same period in the previous year.
Omar Ishrak, Chairman and CEO of Medtronic, said that MDT delivered another quarter of improving revenue growth in a dynamic healthcare environment. Ishrak said that once again, MDT’s growth was broad-based across businesses and geographies and reflects the positive impact of well-executed product launches and stabilizing end-markets.
Shares of Nordson Corporation (NASDAQ: NDSN), a manufacturer of equipment used for precision material dispensing, testing and inspection, surface preparation and curing, are soaring in trading today.
At last check, NDSN shares were trading 13.22% higher at $62.27 on above average volume of 876,470. The stock touched a new 52-week high of $62.44 in trading today.
NDSN shares are soaring after the company reported record third-quarter financial results. For the quarter ended July 31, 2012, NDSN reported sales of $380 million, representing an increase of 22% over the same period in the previous year. The increase included a 16% increase in organic volume.
NDSN’s third-quarter operating profit was $99 million, a record for any quarter in the company’s history. Operating margin for the quarter reached 26%.
Net income for the third quarter came in at $67 million, or $1.03 per share, compared to $57 million, or $0.82 per share reported for the same period in the previous year.
Shares of Raven Industries Inc. (NASDAQ: RAVN), an industrial manufacturer providing a variety of products, are down sharply in trading today.
At last check, RAVN shares were trading 5.33% lower at $30.40 on above average volume of 192,679.
RAVN shares are falling after the company reported its second-quarter financial results. For the quarter ended July 31, 2012, RAVN reported sales of $101.7 million, representing an increase of 13% over the same period in the previous year.
RAVN’s net income for the second quarter was $11.5 million, or $0.32 per share, compared to $12.5 million, or $0.34 per share. The decline in second-quarter net income was due to continued volatility in RAVN’s Aerostar Division.
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