Shares gave up 9.4% to $9.70 after the California-based company rescinded last week's profit guidance of between 7 cents and 9 cents a share for the fiscal fourth quarter. CEO Glenn Novotny cited continuing problems regarding weather and grain pricing, among others, which have hurt its garden and pet businesses.
The company has additionally postponed its public offering for 10 million shares -- also announced last week -- along with the planned concurrent private placement of 500,000 shares to chairman and founder William Brown.
Trio-Tech International (TRT - Get Report) plummeted some 33.6%, meanwhile, on disappointing fiscal 2007 results. The Van Nuys Calif., purveyor of semiconductor-testing and burn-in services made $3.3 million this year, or $1.02 a share, vs. $2.90 a share in 2006. Fourth-quarter income dipped a penny from last year to 21 cents a share. Shares were off $5.06 to $10.Napco Security Systems (NSSC - Get Report) was also among Monday's small-cap losers after the Amityville, N.Y., company's fiscal fourth-quarter income more than halved from last year to $989,000, or a nickel a share. That widely misses analysts' 9-cent per-share consensus, as per Thomson Financial. Shares shed 62 cents, or 10%, to $5.53. On the other hand, UTStarcom (UTSI - Get Report) flew higher after striking a deal to supply its RollingStream product to Bharti Airtel, an Indian telecommunications service provider. RollingStream allows for television and on-demand programming to be delivered over Internet-protocol networks. Terms were undisclosed. Shares bounced 15.6% to $3.11.