Thursday's Small-Cap Winners & Losers
Xenonics Holdings (XNN) surged after the company said it expects fourth-quarter revenue to increase significantly from the same period a year ago. The company also is anticipating a substantial profit for the quarter.
Xenonics expects the trend to continue with increased revenue and profits for 2007. Shares were climbing more than 100%, adding $1.59 to $2.89.
Alanco Technologies (ALAN) was rising on news that its Excel/Meridian Data unit received a new order totaling roughly $900,000 for NetStor network-attached storage systems. The order is scheduled for shipment during Alanco's fiscal second quarter ending Dec. 31. Shares were up 16.4% to $1.56.
Abington Community Bancorp (ABBC) rose after its board and the directors of Abington Mutual Holding Co. and Abington Savings Bank adopted a reorganization plan. According to the plan, the mutual holding company will convert to a stock form of organization.The operations will merge, and a new company will be created. Shares of Abington were up nearly 21% to $19.16. Enova Systems (ENA) dropped after it was notified by its auditors, Windes & McClaughry Accountancy, that the financial statements contained in the company's Form 10-Q for the quarter ended Sept. 30 should no longer be relied upon. The notice conveyed that the 10-Q was filed without Windes' express authorization and that the firm didn't receive certain documents needed to complete its review. At the time it submitted the 10-Q, Enova believed it was authorized to file the form. Shares were down 4% at $4.01. Sifco Industries (SIF) was falling on word that Timothy V. Crean resigned from his position as president and chief operating officer. The company said the resignation wasn't the result of any disagreement between Crean and Sifco. Until a replacement is found, Crean's principal responsibilities will be assumed by Jeffrey P. Gotschall, the company's chairman and chief executive. Shares of Sifco were down 4.7% to $6.15.
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