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(EMAILWIRE.COM, October 29, 2009 ) Windsor, Ontario - FreeHotPennyStocks.com, an online financial publication, provides investors timely stock market alerts. If you are interested in penny stocks that are poised to breakout sign up for our free penny stock newsletter. Each day we send out alerts on different hot penny stocks. For more FREE ALERTS SIGN UP AT http://www.freehotpennystocks.com
Coffee chain operator Peet's Coffee & Tea Inc. (PEET) was upgraded today by Stifel Nicolaus after the company said Tuesday its third-quarter profit rose on higher sales, prompting it to raise 2009 profit guidance.
CEO guidance.
CEO Patrick O'Dea said he was pleased with the quarterly results, crediting a new delivery system, new roasting plant and its store base. He said the company is also looking to grow in other areas, such as its national launch of Godiva flavored coffees.
Emeryville, Calif.-based Peet's earned $2.5 million, or 19 cents per share, in the quarter that ended Sept. 27. That is up from the $2 million, or 15 cents per share, it earned a year earlier.
Revenue rose 8 percent to $73.9 million from $68.5 million, helped by the opening of new retail stores.
The figures beat expectations of analysts polled by Thomson Reuters, who had forecast profit of 16 cents per share on revenue of $71.9 million.
For the year, Peet's said it expects $1.04 to $1.06 per share, up from an earlier prediction of profit of 97 cents to $1 per share. The company also issued new 2010 profit expectations of $1.24 to $1.30 per share.
In the last trading session, the stock closed at $28.27. The company traded as high as $32.66 on well above average trading volume.
Nutrisystem, Inc. (NTRI), a leading provider of weight management products and services, reported financial results for the third quarter of 2009. Details include:
• Revenues of $127.0 million as compared to $162.7 million for Q3 2008;
• Operating income from continuing operations of $13.3 million as compared to $22.1 million for Q3 2008;
• Net income of $8.5 million as compared to $13.5 million for Q3 2008;
• Adjusted EBITDA of $18.7 million as compared to $26.7 million for Q3 2008. Adjusted EBITDA is defined as income from continuing operations excluding non-cash employee compensation, other income or expense, equity and impairment loss, interest, income taxes and depreciation and amortization;
• Diluted EPS of $0.27 as compared $0.43 for Q3 2008; and
• Cash, cash equivalents and marketable securities of $97.6 million at September 30, 2009 as compared to $38.3 million at December 31, 2008. The Company’s $200 million credit facility remains unfunded and fully available.
“Third quarter revenues resulted in operating income from continuing operations and adjusted EBITDA that were an improvement from second quarter 2009, as we experienced continued growth in our diabetic product as well as stabilization in the core business,” stated Chairman and CEO Joe Redling.
In the last trading session, the stock closed at $18.93. The company traded as high as $22.00 on well above the average trading volume.
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