Small-cap stocks perked up early Tuesday along with the broader market. The Russell 2000 jumped 3.2% to 671.25, and the S&P SmallCap 600 was up 3.2% to 358.27.
, an Athens, Greece-based dry bulk shipper, climbed 19% to $29.37 on fourth-quarter earnings. The company posted income of $34.1 million, or $1.71 a share, vs. $9.3 million, or 47 cents a share, a year ago. Revenue rose to $60.9 million from $35.2 million. The company also declared a quarterly dividend of 20 cents a share.
Also rising on earnings, apparel maker
(PERY - Get Report)
added 22% to $20.86. The Miami company reported fourth-quarter income of $9.9 million, or 65 cents a share, vs. $10.7 million, or 68 cents a share, a year ago. Two analysts had forecast EPS of 63 cents.
For 2009, the company forecast full-year revenue growth between 5% and 7% to a range of $910 million to $925 million and full-year EPS of $1.95 to $2 a share. The Street is looking for $1.86 a share.
Shares of Nassau, Bahamas-based marine transport company
(ULTR - Get Report)
rocketed 25% to $9.15. The company announced a share buyback program for as much as $50 million of its common stock.
On the losing side,
(XRM - Get Report)
shares went into free fall, losing 72% to $1.22. The company announced it would delay filing its Form 10-K, an annual summary of its financial performance for the year, with the
Securities and Exchange Commission
. In a press release, the company cited its pursuit of a solution to a "risk of financial covenant default" and uncertainty about its financial impairment as cause for the delay.
Also losing ground,
(GTY - Get Report)
plummeted 46% to $14.49 on revised preliminary fourth-quarter earnings. Pointing to the declining financial condition and results from Getty Petroleum Marketing, the Jericho, N.Y., real estate investment trust said that it has provided a non-cash $10.5 million reserve for deferred rent receivable as of Dec. 31. As a result of that provision, the company announced it lost $600,000 for the quarter, vs. a profit of $9.8 million in 2006.
slipped 27% to $5.25 on first-quarter earnings. The Las Vegas maker of automated card shufflers and other gaming devices posted a loss of $1.8 million, or a nickel a share, vs. a profit of $2 million, or 6 cents a share, a year ago.
Finally, Rancho Cucamonga, Calif., water treatment company
posted a fourth-quarter loss of $1.4 million, or 7 cents a share, vs. $8 million, or 41 cents a share, a year ago. The Street expected a 7-cent EPS profit. Shares fell 20% to $5.25.