Wednesday's Early Winners & Losers
First Solar (FSLR), which makes semiconductors for solar energy conversion, surged more than 15% in late trading Tuesday after it swung to a fourth-quarter profit that toppled Wall Street's downside expectations. The Phoenix-based company earned $8 million, or 12 cents a share, reversing a year-ago loss of $7.2 million, or 14 cents a share.
Analysts were looking for a loss of 7 cents a share, according to Thomson Financial. Revenue nearly quadrupled to $52.7 million, besting estimates by $10.1 million. Shares were up $5.22, or 15.2%, to $39.50.
ADDvantage Technologies (AEY) saw lower earnings that beat Street projections. The electronics distributor had a profit of $1.4 million, or 14 cents a share, compared with $1.5 million, or 15 cents a share, a year ago. Revenue, at $14.7 million, was slightly lower than last year. However, the analyst who follows the company was looking for 9 cents a share on $13.5 million in sales. Shares were soaring 83 cents, or 26.2%, to $4.
Small-cap Mad Catz Interactive (MCZ) jumped after the video-game accessories maker said it earned $3.7 million, or 7 cents a share, in the quarter ended Dec. 31, compared with break-even a share last year. Sales were down 19% from last year to $36.5 million. Chief Executive Darren Richardson attributes the strong earnings, despite the sales drop, to the company's "strategy of eliminating less profitable product placements, adding higher margin products and continuing to reduce operating costs." Shares were gaining a nickel, or 7.7%, to 70 cents.
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