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(SRDX) - Get Surmodics Inc Report

fell well short of Wall Street's expectations for its fiscal fourth-quarter results on Wednesday, and its stock was paying the price in afterhours action.

After the closing bell, the Eden Prairie, Minn.-based developer of drug delivery technology products posted an adjusted loss of $900,000, or a nickel per share, for the three months ended on Sept. 30. Revenue totaled $15.5 million, down 16% on a sequential basis. That performance compared to the average estimate of analysts polled by

Thomson Reuters

for a profit of 13 cents a share in the September period on revenue of $19.3 million.

"We are disappointed with our fiscal 2010 performance," said Phil Ankeny, the company's interim CEO, in a statement. "While the environment remains challenging, and the Company continues to navigate through several revenue transitions, we know we are capable of doing better---and we are committed to doing better."

The stock was last quoted at $10.01, down 23.7%, according to

, on volume of nearly 20,000. Based on a regular session close at $13.11, the shares were down 45% so far in 2010, but they had rallied ahead of the report, rising 5.5% on Wednesday on more than double their average daily volume. The levels seen in extended trading are already below the stock's 52-week low of $10.62 set on Sept. 14.

SurModics also gave an outlook for 2011 that's a far cry from the current consensus view. The company forecast between a non-GAAP loss of 15 cents and a profit of 5 cents a share for the year on revenue ranging from $55 million to $63 million. The

Thomson Reuters

average estimate is for earnings of 63 cents a share on revenue of $82.8 million.

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Another mover to the downside after the bell was

Kulicke & Soffa Industries

(KLIC) - Get Kulicke & Soffa Industries, Inc. Report

, which was last quoted off 7% to $5.92 on volume of more than 130,000.

The Fort Washington, Pa.-based maker of semiconductor and LED

light-emitting diode manufacturing equipment looks to have disappointed with its revenue outlook for its fiscal first quarter ending in December.

It said it expects revenue of $125 million and $135 million for the December period, a projection that's down almost 50% sequentially at the top of its range from its total of $259.3 million in the September period, and far beneath the current average analysts' estimate of $214.6 million.

On the advancing side of the ledger,



were rising 5.4% to $36.70 on heavy volume of around 785,000, according to

Two factors appeared to be driving trading. First, a

report evaluating Provenge was released by the Centers for Medicare & Medicaid Services on Wednesday

that rates the data supporting the drug's effectiveness to be "moderate," which is the second highest classification behind "high" confidence that the data is indicative of the drug's true effect.

Secondly, the Seattle-based company said after Wednesday's close that it's completed the submission of a post-approval supplement for the Biologics License Application related to its Provenge prostate cancer drug for a manufacturing facility located in Morris Plains, NJ.

Dendreon is seeking to add 36 workstations to produce Provenge at the plant, which is currently operating at 25% of capacity, the company says, with 12 workstations able to make the drug.

Also surging in extended trades was

China Grentech


, which was last quoted at $3.57, up 20%, on volume of around 67,000, according to


The China-based producer of radio frequency and wireless communications equipment reported its third-quarter results after the closing bell, saying it earned $1.9 million, or 8 cents a share, on revenue of $59.3 million in the three months ended Sept. 30. The company cited increased revenue from

China Mobile

for the performance, which it said was in line with its guidance.

Based on a regular session close at $2.96, China Grentech shares were down 16.7% year-to-date, but the stock had nearly doubled in the past four months since plumbing a 52-week low of $1.51 on July 1, and was already trading convincingly above 50-day and 200-day moving averages of $2.33 and $2.05 respectively.


Written by Michael Baron in New York.

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Michael Baron


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