Pacific Sunwear (PSUN) Shares Crushed on Big Miss

Pacific Sunwear (NASDAQ:PSUN) got punished after hours on a quarterly report that fell far short of expectations.

Shares fell 8.4% to $3.95 in moderate volume after the market closed. The company said its fourth-quarter adjusted loss was 33 cents a share, and revenue dropped to $263 million from $292.6.8 million the same quarter last year. Analysts polled by FactSet Research had projected a loss of 27 cents a share on revenue of $272 million.

Pacific Sunwear net loss shrunk to $35.2 million, or 53 cents a share, from $36.5 million or 56 cents in the same quarter last year. The company also estimated an adjusted per-share loss of 29 cents to 35 cents for the first quarter. Wall Street’s is looking for a loss of 22 cents a share on $184.5 million.

Pacific Sunwear closed Tuesday at $4.31, gaining $0.12, or 2.86 percent. They plunged to $3.95, falling $0.36, or 8.35 percent after hours.