Friday's Small-Cap Winners & Losers

Zanett (ZANE Quote) shares doubled after its Paragon Dynamics subsidiary was part of a contractor group that won a contract to provide software development and management support for a five-year Department of Homeland Security program with up to $45 billion in funding. New York-based Zanett was up $1.19 to $2.55.

Abaxis (ABAX Quote) was surging on impressive fiscal third-quarter results, with income totaling $2.8 million, or 13 cents a share -- a jump from last year's $1.9 million, or 9 cents a share, and a penny above two analysts' estimates, according to Thomson Financial. The Union City, Calif., maker of portable blood-analysis systems said sales grew 26% to $22 million, slightly below the consensus. Shares were adding $3, or 17.7%, to $20.

GeoMet (GMET Quote) recovered all of its heavy losses from the past two days, and then some, after the driller announced a 24% increase in its 2006 proved coalbed methane resources to about 325.7 billion cubic feet, with a total future net value pegged at $526 million. The Houston-based company also estimates a 36% climb from 2005 in average daily sales volumes, to 17.1 million cubic feet. It forecasted a less rosy 2007, with sales growth expectations of just 14% to 18%, depending upon a "timely and satisfactory resolution" of the court injunction that halted construction on one of its pipelines and helped pound the company's stock earlier this week. But shares were rising $1.54, or 18.1%, to $10.04.