Polypore International, Inc (NYSE:PPO) declared fiscal Q1 earnings tumbled 52 percent as continued weak demand for lithium battery separators counterbalance sales expansion in the firm’s other units.
Shares of the Charlotte, North Carolina based company plunged 7.8 percent to settle at $38 in after-hours trading session as adjusted profit and revenue were well lower than Wall Street forecasts.
Polypore booked a profit of $9 million or 19 cents per share for three months period, low from $18.8 million or 40 cents per share in same period a year ago.
Adjusted earnings were low at 27 cents per share from 47 cents per share without stock-based reward and other items. Quarterly revenue fell 5.9 percent to $163.5 million.
Thomson Reuters analysts survey most recently anticipated EPS of 40 cents on $176 million of revenue.
Shifting reader’s focus to broader market, let us consider market performance of other stocks that significantly affect same sector. 3D Systems Corporation (NYSE:DDD) rose +2.53% to settle at $43.70, PPG Industries, Inc. (NYSE:PPG) moved up +1.66% to end at $155.14 while Medtronic, Inc. (NYSE:MDT) jumped +1.48% to finish at $48.81 on Wednesday.
Polypore International, Inc. (NYSE:PPO) on May 08, 2013 decreased -1.01% to the closing price of $41.21. The overall volume in the last trading session was 358,276 shares. Its fifty two weeks range was $30.39 – $48.42. The total market capitalization remained at $1.92 billion.
ABTL is ahead of its 52-week low with 35.60% and lagging behind from its 52-week high price with -14.89%. ABTL’s last month’s stock price volatility remained 2.83%. In its share capital ABTL has 46.72 million outstanding shares, among them 46.03 million shares have been floated in market exchange. ABTL’s stock’s insider ownership remained 0.26%.
The stock price of ABTL is moving forward from its 20 days moving average with 4.01% and remote positively from 50 days moving average with 3.92%. ABTL’s current year’s earnings per share experienced a downfall of -32.74% while its current quarter performance remained at 3.31%. Company’s beta coefficient included 1.83. Beta factors measure the amount of market risk associated with market trade.
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