Thursday after hours
The following small-cap companies were making news in after-hours trading Thursday:
Lakeland Industries, Inc. (Nasdaq: LAKE) said net sales decreased 6% to $25.6 million for the first quarter of fiscal 2008 ended April 30, 2007, from the same quarter the previous year. Earnings per share were $0.10 for the quarter, compared with the year-ago's $0.26, and well below the sole analyst's estimate for $0.24. The Ronkonkoma, N.Y. company designs and manufactures protective apparel for industry, municipalities, and the field of homeland security. In after-hours trading Lakeland was $0.07 lower at $13.76. CEO Christopher Ryan said the restructuring of the company’s Mexican operations was the largest component of the weak first quarter. He added that "this quarter represents a nadir in our earnings and each quarter should improve sequentially as we reap the benefit of our Mexican restructuring, and fire gear, glove and international sales improve, over the coming three quarters."
Synergetics USA, Inc. (Nasdaq: SURG) said it had record sales for the third quarter of fiscal 2007 ended April 30, rising 9.9% to $11.5 million from a year earlier. O'Fallon, Mo.-based Synergetics reported a net loss for the three-month period of about $92,000, or $0.00 per basic and diluted share, compared with net income of approximately $1.2 million, or $0.05 per basic and diluted share, for the third quarter of fiscal 2006. There were no analyst forecasts for comparison. Synergetics makes surgical instruments and devices. Synergetics closed 3% lower at $3.61 in the regular trading session. Shares had yet to trade in after-hours.
Lancaster, Pa.-based Herley Industries, Inc. (Nasdaq: HRLY) said its earnings for the third quarter ended April 29 more than doubled to $3.9 million, or $0.27 a share on a diluted basis, from $1.7 million, or $0.11 per share, for the same quarter of 2006. Earnings outdid analysts' expectations for $0.22. Net sales for the quarter were $44.4 million, down slightly from $45.7 million a year earlier but in line with forecasts of $44.06 million. Herley designs and manufactures microwave technology systems for the defense, aerospace and medical industries. Shares were higher in after trading, up 3.4% at $16.55.
NeoMagic Corporation (Nasdaq: NMGC) said its fiscal first quarter 2008 ended April 29 showed total revenue of $482,000, compared with $117,000 in the fourth quarter of fiscal 2007. Net loss for the first quarter was $3.2 million, or $0.26 per share, versus a net loss of $3.0 million, or $0.27 per share, in the prior year's fourth quarter. There were no analyst estimates. Santa Clara, Calif.-based NeoMagic delivers semiconductor chips and software that allow handheld devices to present multimedia features. Shares were up 1% at $4.10 in after hours trading.
Oncology company YM BioSciences Inc. (AMEX: YMI) said it has received a "No
Objection" letter from Health Canada to start a Phase II trial investigating nimotuzumab in patients with recurrent diffuse intrinsic pontine glioma. That is a form of inoperable and treatment-resistant brain cancer that affects children. YM BioSciences, based in Mississauga, Ontario, has previously said it intends to begin a trial with nimotuzumab in colorectal cancer, for which it has received a No Objection letter from Health Canada,
and to file for a trial in esophageal cancer this year. Shares were up 5.6% in after-hours trading at $1.90.
BioVeris Corporation (Nasdaq: BIOV) said for the fourth quarter ended March 31 revenues were $5.3 million, compared with $4.1 million for the same period the previous year. BioVeris' net loss for the three months was $0.49 per common share, versus a net loss of $0.27 a year earlier. There were no analyst estimates for the Gaithersburg, Md.-based BioVeris, which develops diagnostics and vaccinology for the healthcare industry. Shares were down 0.09% at $21.37 in after hours trading.
