Smith & Wesson (SWHC) posted a quarterly profit of 21 cents per share, up from a loss of a dollar 62 in the same quarter last year, driven in part by a surge in net sales of 48.6%. But investors were disappointed by the company's sales outlook for next quarter, and sent shares tumbling 16 and a half percent in Friday trading.
Shares of Steris (NYSE:STE) plunged 21 and a half percent, after the FDA warned that regulatory action could be taken against the company for continuing to market its unapproved SS1 product, which may not adequately disinfect medical devices. The result could mean infections in patients. In the beginning of the year, Steris had agreed to voluntarily discontinue sales of the product and help customers switch to different units.
Shares of fiber optics technology company Finisar (FNSR) were off nearly 6%, after the company reported a quarterly loss from continuing operations of 49 cents per share. That compares to an 18 cent loss last quarter, and a loss of 3 dollars and 55 cents in the same quarter last year. Total optics revenues were down about 1.4% year over year.
DuPont (NYSE:DD) updated its commercialization timelines for its new corn and soybean varieties, saying that the new corn hybrid was found not to meet standards for high yield, and therefore will not be released starting in 2010 as planned. Instead, the company plans to intensify its research efforts with the goal of meeting a new commercialization timeline of the middle of the next decade. On the soybean front, the new variety had strong yield results, with a 6% yield advantage over current varieties. But because of new regulatory policies, the company said the planned 2011 introduction will be postponed by 2 to 3 years. DuPont shares fell more than 3% in Friday trading.
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