Recent IPOs Review: Michael Kors Expansion, Zipcar Earnings
Michael Kors Holdings (NYSE:KORS): Expects to open 30-40 retail stores annually, and believes it can ultimately reach 400 locations in this region. Says continues to perform “very well” in Europe, despite difficult economic environment and ultimately sees 100 retail stores in the region. Says can ultimately reach 100 stores in Japan.
The shares closed at $42.85, up $9.24, or 27.49% on the day. The stock is $22.85 or 114.25% higher than IPO price of $20.00.
Zipcar (NASDAQ:ZIP): Reports revenue $62.9M vs. consensus $63.09M. Q411 benefited from a gain on the sale of Zero Emission Vehicle, ZEV, credits of $2.5M compared to a gain of $1.2M on the sale of ZEV credits in the prior year period. Excluding the impact of ZEV credits, US GAAP net income for the 2011 fourth quarter would have been $1.4M. US GAAP net loss for the full year 2011 was $7.2M, or (24c) per share, compared to a loss of $14.1M, or ($2.74) per share, in 2010 during which the outstanding share count was substantially lower.
The shares closed at $13.84, down $2.3, or 14.25% on the day. The stock is $4.16 or 23.11% lower than IPO price of $18.00.
NeoPhotonics (NYSE:NPTN): Reports Q4 revenue $57.18M vs. consensus $46.93M
The shares closed at $5.73, down $0.39, or 6.37% on the day. The stock is $5.27 or 47.91% lower than IPO price of $11.00.
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