Early Stocks in Motion

Arrow International(ARRO) said it earned $5 million, or 11 cents a share, for the fourth quarter ended Aug. 31, compared with $14.4 million, or 32 cents a share, a year ago. Revenue for the quarter was $114.3 million, up from $112.9 million last year. Analysts expected earnings of 30 cents a share on sales of $113.1 million. Arrow attributed the 65.3% drop in net income to the adjustments for the ongoing evaluation of internal controls related to Sarbanes-Oxley. For the first quarter, the cardiac care product maker expects to earn 27 cents to 30 cents a share on revenue of $115 million to $117 million. Both are well below estimates. The stock fell $2.24, or 6.75%, to $30.93 in after-hours trading.

Lawson Software(LWSN) swung a profit of $4.2 million, or 4 cents a share, for the first quarter ended Aug. 31, versus a loss of $417,000, or a breakeven on a per-share basis, a year ago. Revenue for the quarter rose to $87.9 million from $82.7 million last year. Analysts polled by Thomson First Call expected a profit of 4 cents a share on sales of $84.7 million. The stock was up 50 cents, or 7.65%, to $7.04 in after-hours.

Callaway Golf(ELY) said it will cut 500 jobs as part of a restructuring that it hopes will cut overall expenses by $70 million. The announcement came as the golf club company forecast a third-quarter adjusted loss of between 1 cent and 5 cents a share. Analysts expected a profit of 2 cents a share. Callaway expects the restructuring to cost $12 million, about half of which will be expensed in the third quarter.

VeriSign(VRSN) announced preliminary results for the third quarter ended Sept. 30. The company expects revenue of $410 million, compared with its previous guidance of $435 million to $440 million. Excluding items, VeriSign expects to earn 27 cents a share. Analysts expected a profit of 27 cents a share on revenue of $438 million, according to Thomson First Call. The stock was up 81 cents, or 3.92%, to $21.47 in after-hours trading.