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Los Angelas, CA -- (SBWIRE) -- 11/16/2012 -- Velti plc (NASDAQ:VELT) reported EPS of -0.016. For the Current Fiscal year, the company is expected to report EPS of 0.73. For the Next Quarter and Next Year, the company is expected to report EPS of 0.72 and 0.96 respectively. At Current Market Price, VELT is in distance of -42.68% from its 50-day Moving Average price of $7.6242 and -40.84% from its 200-day Moving Average price of $7.3871. Shares of Velti (NASDAQ:VELT) got destroyed today, down by as much as 36%, after the company reported a surprise loss in the third quarter. The company posted record revenue of $62.4 million, which was an increase of 62% from a year ago and narrowly beat analyst expectations. That all translated into an adjusted net loss of $1.8 million, or $0.03 per share, while investors were looking for a $0.03 per share profit. Research and development costs were up in the quarter, and since the company accelerated its software development cycles, it had to reduce capitalization of those costs. Velti also said it was divesting assets in challenging geographies, specifically in the Greek and Balkan regions. Guidance was also soft, with fourth-quarter sales predicted in the range of $97.1 million to $113.1 million, short of the $121.1 million in sales that analysts were expecting.
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OSI Systems (NASDAQ:OSIS) have gotten clobbered today by as much as 36% on reports that the company manipulated test results related to its Rapiscan security unit.The company's Rapiscan division is one of two key suppliers of body-scanning machines to the TSA, and a congressman said that the company may have tried to defraud the government by falsifying an operational test related to the machines. The company staunchly denies these allegations and says it is "fully cooperating" with the TSA in the subsequent investigation. OSI Systems has now received a show cause letter from the TSA alleging that Rapiscan didn't disclose relevant issues in a "timely or complete manner." The company says it could not have manipulated data since the tests are government-controlled
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Diamond Foods Inc.'s (NASDAQ:DMND) shares plummeted to six-year low Thursday after the snack food company restated its financial results for two years and provided an update on the current year's performance. Investors appeared uncertain of the company's future growth prospects as costs rise and walnut deliveries drop.Diamond, late Wednesday, effectively wiped away $56.5 million in profit from its books after it restated its results from 2010 and 2011. The company also posted a net loss of $53.4 million for the first three quarters of 2012 due to a weaker walnut business and costs tied to a recent investigation, its financial restatements and a terminated deal to buy Pringles. Diamond suffered mightily from the fallout. Its stock price sank on concerns about the payments, it lost its bid to buy the Pringles brand from Procter & Gamble Co. and it eventually replaced its CEO and chief financial officer over the issue.
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Shares of children's apparel retailer The Children's Place (NASDAQ:PLCE) sank 15% today, after its full-year outlook missed Wall Street estimates. Third-quarter results -- EPS rose to $1.44 from $1.33 a year earlier -- were in line with expectations, but downbeat guidance for 2012 is forcing analysts to lower their valuation estimates. Management blamed the cut largely on increased promotions after superstorm Sandy pummeled the northeast, however, giving investors some hope that the trouble is just a short-term blip. Management now sees full-year 2012 EPS of $3.10-$3.15, down from its prior view of $3.20-$3.30, and below the consensus of $3.31. According to CEO Jane Elfers
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