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Caribbean Market Update

AngioDynamics Drops on Weak Revenue, Fastenal, WD-40 Shine

Author: Mukesh Buch
Islandjournal.net
Last Update: 12:36 PM EDT July 11 2018


12:30 PM New York City, New York AngioDynamics tumbled on weak revenues. AAR Corp net declined but reaffirmed fiscal outlook. Fastenal surged after stronger-than-expected results. MSC Industrial Direct net soared on. WD-40 Co reported strong third-quarter results.

Tollbooth Index rose 14.95 to 15,378.49 but for the year-to-date soared 11.8%.

Earnings Review

AngioDynamics Inc (ANGO) tumbled 12.2% or $2.76 to $19.82 after the medical, surgical, and diagnostic devices maker said net sales in the fourth-quarter ending in May increased 1.6% from a year ago to $88.3 million.

Net in the quarter swung to profit $2.1 million or 6 cents per diluted share from $12.9 million or 35 cents in the same quarter last year.

The medical devices maker forecasted fiscal 2019 net sales in the range of $344 million to $349 million and diluted earnings per share in the range of 82 cents to 86 cents.

AAR Corp (AIR) plunged 8.6% or $4.16 to $44.39 after the aviation services provider said sales in the fourth-quarter ending in May advanced 5% from a year ago to $473.5 million.

Net income in the quarter declined 43.4% to $12 million or 34 cents per diluted share from $21.2 million or 62 cents in the same quarter last year.

AAR reaffirmed fiscal 2019 sales forecast in the range of $2.1 billion to $2.2 billion and diluted earnings per share between $2.50 and $2.80, and operating profit in the range of $180million to $190 million.

Fastenal Co (FAST) soared 9.9% or $4.91 to $54.44 after the fastener services provider reported net sales in the second-quarter ending in June advanced 13.1% from a year ago to $1.3 billion.

Net income in the quarter surged 41.9% to $211.2 million or 74 cents per diluted share from $148.9 million or 52 cents in the same quarter last year.

Fastenal said during the quarter, it had signed 5,537 industrial vending devices, an increase of 13.4% and as on June 30, installed device count jumped 14.3% to 76,069 from a year ago period.

MSC Industrial Direct Company Inc (MSM) dropped 2.6% or $2.23 to $82.41 after the metalworking maintenance and repairing services provider said net sales in the third-quarter ending on June 2 surged 11.3% from a year ago to $828.3 million.

Net income in the quarter soared 26% to $79.1 million or $1.39 per diluted share from $62.8 million or $1.09 in the same quarter last year.

The industrial distributor forecasted fiscal 2018 net sales to between $829 million and $844 million and diluted earnings per share in the range of $1.24 and $1.30.

WD-40 Company (WDFC) gained 1.1% or $1.65 to $154.70 after the lubricants and cleaning products maker stated total net sales in the third-quarter ending in May jumped 9% from a year ago to $107 million.

Net income in the quarter soared 12% to $16.1 million or $1.15 per diluted share from $14.4 million or $1.02 in the same quarter last year.


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