Jo-Ann Stores (JAS) said net income for the second quarter was $5.4 million, or $0.20 per diluted share, compared with a net loss of $3.2 million, or a loss of $0.13 per diluted share, for the second quarter last year.
The company is increasing its previously announced expectations for fiscal 2011, forecasting a same-store sales increase of approximately 3.0% to 4.0% for the year versus the previously announced range of approximately 2.5% to 3.5%. Earnings per diluted share are now expected to be in the range of $3.20 to $3.35 for the year versus the previously announced range of $2.95 to $3.10.
Shares of Jo-Ann Stores are higher by 13.25%.
Gerber Scientific (GRB) said revenue increased 8.2% to $118.3 million from $109.4 million. Net income for the current quarter was $1.5 million, or $0.06 per diluted share, compared with $0.5 million, or $0.02 per diluted share, beating expectations.
Gerber Scientific is trading up 22.4%.
HEICO Corporation (NYSE:HEI) (NYSE:HEI.A) reported that net income increased 34% to $14,930,000, or 44 cents per diluted share, for the third quarter of fiscal 2010, up from $11,132,000, or 33 cents per diluted share, for the third quarter of fiscal 2009. Net sales increased 18%.
The company is raising their fiscal 2010 net sales targets to approximately $600 million and raising their net income per diluted share targets to a range of $1.50 to $1.53.
Shares of HEI are higher by 8.4%.
Geokinetics (GOK) today announced that Petroleos Mexicanos has awarded its Mexican subsidiary a seismic acquisition contract valued in excess of $110 million for work in Mexico.
Geokinetics shares are up 37.6%.
Brush Engineered Materials (BW) was upgraded today by KeyBanc to buy from hold. Shares are trading up 9.6%.
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