Methode Electronics (METH) jumped on fourth-quarter profits of $4.7 million, or 13 cents a share, that powered past the 9-cent estimates from Thomson Financial. Last year the Chicago-based company earned just $2.8 million, or 8 cents a share. Sales climbed 11% to $105.4 million, which beats estimates by about $5 million. Shares were rising $1.46, or 13.8%, to $12.08.
Advocat (AVCA), a Tennessee-based nursing-home-services company, saw a steep income drop to $2.3 million, or 37 cents a share, compared with $12.9 million, or $1.99 a share, a year ago. Revenue was up slightly to $55.8 million and just topped the only analyst's $54.3 million estimate, but per-share profits fell short by 26 cents.
The company also made room for continuing-operations losses in its 2007 guidance, expecting its bottom line to range between a per-share loss of 8 cents and earnings of a penny; the analyst is calling for a 58-cent per-share profit. Revenue should range between $221 million and $228 million, which is in line. Shares were losing $4.58, or 26.9%, to $12.42.
Gulf Island Fabrication (GIFI - Get Report) plummeted after the Houma, La.-based company, which makes structures for the oil and gas industry, widely missed fourth-quarter estimates. Profits rose year over year to $3.7 million, or 26 cents a share, on $76 million in revenue, but Wall Street was looking for 53 cents a share. A year ago, Gulf Island earned $2.7 million, or 22 cents a share. Its stock was falling $8.55, or 23.8%, to $27.39.