AEP Industries (NASDAQ:AEPI) posted a quarterly profit of 55 cents per share, down from 79 cents in the same quarter last year. Net sales were up 8% year over year, which the company said was the result of an increase in average selling prices attributable to higher resin costs, but offset by a decrease in sales volume. Following the report, shares of AEP Industries were trading lower by more than 5%.
China North East Petroleum Holdings (AMEX:NEP) has resumed trading on the NYSE's (NYSE:NYX) Amex exchange after regaining compliance with the exchange's listing requirements. Shares opened down about a dollar per share, or more than 18% below where the stock had traded in May. Earlier this week the company announced its financial results for the quarters ended June 30, and March 31, of this year, as well as for the full year 2009.
And shares of Spartech Corporation (NYSE:SEH) plunged more than 30% on Thursday, after the company posted a quarterly loss of 12 cents per share. Analysts had been looking for a 27 cent profit. Although net sales were up 17% year over year, the company cautioned that much of the increase was due to the pass-through of higher raw material costs. Sales volumes were up 7%, but the company said the overall market recovery is proceeding slower than expected, with domestic construction and recreation and leisure especially weak.
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