) -- Strong earnings reports were powering small-caps on Thursday. The stock of

IPG Photonics

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was the biggest winner in the small-cap space, up 30% to $45.09, after the laser manufacturer said it expects to report fourth-quarter results above its previous forecast.

The company said it expects profit between 53 cents and 56 cents per share on about $100 million in sales. Previously, the company said it expected profit between 30 cents and 35 cents per share on revenue between $80 million and $86 million. Analysts were expecting profits of 36 cents per share on revenues of $85 million.

Hanger Orthopedic


saw its shares climb 19% to $4.36 on volumes of over 1 million after its adjusted fourth-quarter profit of 52 cents beat estimates by 12 cents.

Shares of

Select Comfort


jumped 12% to $11.79 after the mattress maker topped Wall Street's profit view for its latest quarterly results and gave a strong outlook for fiscal 2011.

The company earned $7.1 million, or 13 cents a share, on sales of $148.7 million for the three months ended Dec. 31, ahead of the average estimate of analysts for a profit of 10 cents a share on sales of $143.7 million in the quarter.

Communications technology company


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reported a 66% drop in profits to $11.3 million or 9 cents per share. Adjusted profit came in at 19 cents, beating estimates by 2 cents. The company, which provides products that enable high-speed data and video traffic, forecast first-quarter earnings of 14-18 cents per share, excluding items, on revenue of $260 million to $280 million.

Shares of



were up 3.5% at $5.70 after it said Wednesday that it plans to put a stop to its retail expansion plans and focus on its existing network. Expansion plans drained the cash-strapped company of resources. Analysts also hope that the move would persuade partner

Sprint Nextel

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to pump more money into the company, according to a



Shares of



were up 9% on unusually high volumes. The company announced that it published a key study about its Down syndrome prenatal detection test in the American Journal of Obstetrics and Gynecology.

Shares of

Open Table



JA Solar


were other notable gainers on Thursday's trading.

-- Written by Shanthi Bharatwaj in New York

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Shanthi Bharatwaj


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