Multi-Color Corp. stock down 14% after earnings miss; board ‘exploring alternatives’
Shares of Multi-Color Corp. fell 14% in the extended session Monday after the label-making company reported fiscal third-quarter results below expectations and said its board is “exploring strategic alternatives.” Multi-Color said it earned $9.2 million, or 55 cents a share, in the quarter, compared with $1.06 a share a year ago. Adjusted for one-time items, the company earned 50 cents a share, compared with 71 cents a share a year ago. Revenue rose 13% to $397 million, compared with $352.7 million a year ago. Analysts polled by FactSet had expected GAAP and adjusted earnings of 79 cents a share on sales of $412 million. Shares of Multi-Color had ended the regular trading day up 1%.
Source : MTV
