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Both Japanese restaurant chain Benihana Inc. (NASDAQ: BNHN) and gun maker Smith & Wesson Holding Corp. (NASDAQ: SWHC) on Thursday said that their profits fell in their fiscal fourth-quarters. Shares of the former fell Friday by more than 11%, while shares of the latter rose nearly 6%.
Miami-based Benihana's fourth-quarter net income fell 30% from the year-ago quarter to $2.7 million, or 17 cents per share percent, due to the difficult environment for restaurants. Revenue for the quarter ended March 30 fell 2% to $70.2 million, and same-store sales fell 2.2%.
Analysts polled by Thomson Financial had expected a profit of 15 cents per share on revenue of $70.8 million.
For the fiscal year, earnings fell 13% to $11.7 million, or 75 cents per share, and revenue rose 9% to $296.9 million.
Shares of Benihana fell to a 52-week low of $6.69 on Friday before closing at $6.97. Shares are down 44.7% year to date.
Springfield, Mass.-based Smith & Wesson said fourth-quarter earnings fell 37% from a year ago to $3.3 million, or 8 cents per share, as higher marketing costs failed to boost sales. For the quarter ended April 30, sales were flat at $82.6 million.
Analysts, on average, had expected profit of 5 cents per share on revenue of $77.4 million, according to Thomson Financial.
For the year, Smith & Wesson's profits fell by 30% to $9.1 million, or 22 cents per share, and sales rose 25% to $293.9 million.
Shares of Smith & Wesson rose 29 cents Friday to close at $5.48. Shares are down 9.3% year to date, and well off their 52-week high of $22.80 back in August of 2007.
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