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Small-Cap Snapshot: Destination Maternity swings to a profit in its first quarter

The retailer reported earnings of US$0.02 per share compared with a US$0.08 per share loss in the previous first quarter
Maternity shopping
The maternity clothes retailer operates more than 1,100 locations

Destination Maternity Corporation (NASDAQ:DEST) swung to a profit in its first-quarter earnings report. The retailer reported earnings of US$0.02 per share on revenue of US$103.23mln, compared with an earnings loss of US$0.08 per share on revenue of US$106.42mln. The maternity clothes retailer operates more than 1,100 retail locations. Shares of the New Jersey-based company were up nearly 30% to US$4.45.

Teligent Inc (NASDAQ:TLGT) shares soared after the pharma company’s drug application received approval from the US Food and Drug Administration. Its topical corticosteroid, known as Diflorasone Diacetate ointment 0.05%, treats a variety of skin conditions. This decision marks the fifth drug approval of the year. Shares of the speciality pharma jumped more than 9% to US$3.56.

READ: Teligent shares pop on FDA approval of its topical corticosteroid ointment, Diflorasone Diacetate 0.05%

Fred’s Inc (NASDAQ:FRED) shares sunk after the discount chain saw an earnings loss in its first quarter. The company reported a loss of US$0.54 per share on revenue of US$437.11mln compared with an earnings loss of US$1.02 on revenue of US$464.17 in the previous first quarter. Fred’s has hired an investment bank to look into selling its retail pharmacies after selling its speciality pharmacies to CVS Health Corp (NYSE:CVS) for US$40mln. Shares of the Memphis-based company fell more than 7% to US$1.62.

ClearOne Inc (NASDAQ:CLRO) missed Wall Street estimates on earnings and revenue in its first quarter. The communication equipment company reported a loss of US$0.18 on revenue of US$7.29mln compared with analyst expectations of US$0.07 on revenue of US$12.5mln. The company says that patent infringement on its intellectual property negatively impacted its quarterly results. Shares of the Utah-based company dropped more than 18% to US$4.70.

The small-cap indices were on the rise with both the Russell 2000 and the S&P 600 seeing minimal gains.

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Destination Maternity Timeline

Newswire
November 17 2011

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