On Tuesday, retail auto parts and repair chain Pep Boys Manny, Moe & Jack (NYSE: PBY) reported that its fiscal first-quarter profit jumped on a gain from selling properties and then leasing them back. Meanwhile, Quality Systems Inc. (NASDAQ: QSII), a provider of software for medical and dental group practices, said its net income for the fiscal fourth quarter surged on strong maintenance revenue growth.
Philadelphia-based Pep Boys first-quarter net income rose 47% from a year ago to $4.7 million, or 9 cents per share, which included a $5.5 million net gain related to the sale-leaseback transactions.
For the quarter ended May 3, revenue fell 8% to $498 million, and same-store sales fell 5.6%.
Analysts polled by Thomson Financial, on average, had predicted a loss of 3 cents per share, on revenue of $497.2 million.
Shares rose 89 cents Tuesday, or 10.2%, to $9.62, then rose another 3 cents in after-hours trading. Shares are down 16.2% year to date.
Irvine, Calif.-based Quality Systems said its fourth-quarter profits rose 32% from the year-ago period to $11.3 million, or 41 cents per share. Revenue for the quarter ended March 31 rose to $51.2 million.
Analysts surveyed by Thomson Financial had expected earnings of 41 cents per share on revenue of $53.3 million.
For the full year, net income totalled $40.1 million, up from $33.2 million during the prior year.
Shares of Quality Systems rose 38% to $35.01 Tuesday, but then fell to $33.20 in after-hours trading. Shares are up 14.8% year to date.
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