Monday after hours
The following small-cap companies are making news in after-hours trading:
Mitcham Industries Inc. (Nasdaq: MIND) said it earned $3.9 million, or $0.39 per diluted share, in the first quarter of fiscal 2008, compared with net income of $3.4 million, or $0.33 per diluted share in the year-ago period; the earnings beat analysts' expectations for $0.30. Total revenues were $23.0 million, up from $14.1 million in the first quarter of fiscal 2007; there were no analyst estimates for revenues. The Houston, Tex.-based geophysical equipment supplier said it generated record revenues in its core business of equipment leasing; it also saw strong demand for equipment manufacturing and sales. Equipment leasing revenue, excluding equipment sales, rose 44% to a record $10.1 million, up from $7.0 million in the same period last year, driven in part by increased demand for seismic equipment. Shares of Mitcham Industries were up 3.2%% at $18.64 in after-hours trading, surpassing the 52-week high. The 52-week low, set last fall, is $9.58.
North American Scientific, Inc. (Nasdaq: NASI) said its revenues were $6.2 million in the second quarter ended April 30, down from revenues of $8.1 million in the second quarter of 2006. The Chatsworth, Calif.-based company, which makes cancer radiation therapy products, said it lost $0.11 per share, compared with a net loss in the year-ago period of $0.22 per share. There are no analyst estimates available for the company. Shares were down $0.15, or 10%, to $1.35 in after-hours trading.
GSI Group Inc., (Nasdaq: GSIG), said it received an order for multiple M550 infrared laser based wafer repair systems from a new customer, Rexchip Electronics Corporation. GSI Group is a Bellerica, Mass.-based supplier of precision technology and semiconductors, and Rexchip is a joint venture between Elpida Memory and Powerchip Inc.; Rexchip is based in Taiwan. Shares of GSI Group were slightly higher in after-hours trading, trading at $10.51, up $0.03.
Milpitas, Calif.-based Sigma Designs, Inc. (Nasdaq: SIGM), said it earned $0.20 per diluted share in the first quarter ended May 5, compared with $0.06 per diluted share in the same quarter a year earlier. Analysts had expected $0.27 per share. Revenues for the first quarter were $36.0 million, up strongly from $14.8 million a year earlier and higher than analysts' expectations averaging $34.15 million. "Looking forward, we maintain our expectation of meaningful top-line growth and profitability for the remainder of our fiscal year," said Thinh Tran, chairman and CEO of Sigma Designs, which makes silicon-based media processors for IPTV set-top boxes, digital media receivers, high definition DVD players, HDTV, and portable media players. Shares of Sigma Designs were down 1.50% at $28.67 in after hours trading. The 52-week range is $7.99 to $32.57.
Credence Systems Corporation (Nasdaq: CMOS) reported a net loss for the second quarter ended May 5 of $0.03 per share, compared with a net loss in the year-ago period of $0.14 per share, and below analysts' estimates calling for earnings of $0.01. Revenues were $121.1 million, down from $129.9 million in the same quarter a year ago but above analysts' forecasts averaging $116.98 million. The Milpitas, Calif.-based semiconductor company said its sales in the third quarter of fiscal 2007 are expected to be about $120.0 million to $123.0 million, with per-share results at approximately breakeven. Analysts were looking for earnings of $0.04 in the third quarter and revenues of $120 million. Shares were lower in after-hours trading, down $0.04 at $3.39. The 52-week range is $1.80 to $5.52.
Andover, Mass.-based NaviSite, Inc. (Nasdaq: NAVI), reported a net loss of $0.08 per share for the third quarter of fiscal year 2007 ended April 30, compared with a net loss of $0.12 per share in the year-ago quarter, and better than the average analyst estimate for a loss of $0.09. Revenues were $32.7 million, compared with $27.9 million a year ago and above analysts' expectations at $31.37 million. For the fourth quarter, NaviSite projected revenues between $33.5 million and $34.0 million, and put revenues for the full year between $125.0 million and $125.5 million. Analysts had anticipated full year revenues at $123.81 million. EBITDA, excluding impairment costs, stock-based compensation and one-time charges, was projected by NaviSite between $6.3 and $6.8 million for the fourth quarter and between $22.8 and $23.3 million for the full fiscal year. Shares of NaviSite, which provides application solutions, hosting and content delivery services, were down 13.24% at $5.90.
