Tuesday after hours
The following companies were making news in after-hours trading Tuesday:
Shares of Volterra Semiconductor Corporation (Nasdaq: VLTR) were lower in after-hours trading after the company lowered guidance for the second quarter ending June 30. The Fremont, Calif.-based provider of semiconductors said revenues in the second quarter now are estimated to fall between $18.5 million to $19.5 million. On a non-GAAP basis, the company forecast a loss per share of $0.04 to a loss of $0.07. Analysts had expected revenues at $20.47 million and they'd seen the company earning $0.11 in the second quarter. In after-hourse trading shares of Volterra were $0.54 higher at $14.61, after closing $1.33 lower in the regular trading session. Volterra said the updated guidance stemmed from a process defect with one of the company's vendors. The problem caused the company to recall $2.0 million to $3.0 million of product and will result in a charge to earnings of $3.0 million to $4.0 million in the second quarter. Volterra indicated it has identified the reason for the defect and has worked with its vendor to correct the process.
Angeion Corporation (Nasdaq: ANGN) said net income in the second quarter ended April 30 was $0.11 per diluted share, up from $0.05 in the prior year period. Revenues were $10.0 million, up strongly from $7.2 million in the second quarter of 2006. The St. Paul, Minn.-based company recorded double-digit year-over-year revenue growth for the twelfth consecutive quarter. There were no analyst estimates. Shares of Angeion were virtually unchanged in after-hours trading, compared with the close of $10.84. The health care company develops, manufactures and sells non-invasive cardiorespiratory diagnostic systems.
Navarre Corporation (Nasdaq: NAVR) said its fourth quarter ended March 31 saw revenues of $168.6 million, down from $171.9 million in the same period a year ago but above analysts' forecasts at $162.79 million. Net loss per diluted share for the quarter was $0.06, down from earnings of $0.03 per share in the prior year fourth quarter and below the average analyst estimate for earnings of $0.06. The Minneapolis, Minn.-based publisher of digital home entertainment and multimedia products also guided on fiscal 2008, saying it anticipates consolidated net sales between $670 million and $690 million, versus 2007's sales of about $648 million. Net income of $9.0 million to $10.0 million is expected. Shares of Navarre were unchanged in after-hours trading at $3.85.
Mad Catz Interactive, Inc. (AMEX: MCZ) said its net sales for the fourth quarter ended March 31 were $19.3 million, up from $17.2 million in the year-ago quarter. Net income for the San Diego-based company was $0.7 million, or $0.01 per share, compared with a net loss of $3.3 million, or $0.06 per share, in the prior year's fourth quarter. Shares of Mad Catz, which provides peripherals to the interactive entertainment industry, were up 4.48% in after hours trading at $1.40. Shares were near their 52-week high of $1.45; the 52-week low is $0.30.
Printronix, Inc. (Nasdaq: PTNX) said revenue for the fourth quarter ended March 30 was $32.6 million, down from $33.2 million in the same quarter last year and below the only analyst estimate for $33.5 million. Net income for the quarter was $0.02 per diluted share, compared with a net loss of $1.19 per diluted share in the year-ago period. The sole analyst covering the company had expected earnings of $0.14. Irvine, Calif.-based Printronix, which produces printing solutions for the industrial marketplace, said it does not expect sales to InfoPrint Solutions to improve until later in the 2008 fiscal year. So it guided analysts to expect revenue in a range of $30.5 million to $32.0 million in the first quarter of 2008; earnings are expected at breakeven to $0.10 per share. Shares of Printronix were down 4.07% at $12.25 in after hours trading, toward the low end of the 52-week range of $11.74 to $14.91.
Minneapolis, Minn.-based PLATO Learning, Inc. (Nasdaq: TUTR), reported lower revenues and a larger loss than analysts had expected in the second quarter ended April 30. The provider of computer-based learning programs said revenues were $15.2 million, down from $20.0 million in the previous year's second quarter and below estimates averaging $16.54 million. The company’s net loss for the second quarter was $0.22 per share, better than last year's quarterly loss of $0.25, but analysts had expected a loss of $0.19. Shares of PLATO were unchanged in after-hours trading at $4.43.
