Small-caps rallied Thursday, jumping slightly higher than their blue-chip counterparts but not surging as fast as the

Nasdaq

, which ended the day up 2.8%. The Russell 2000 was up 1.9% to 729, and the S&P SmallCap 600 climbed 1.7% to 385.

Costa Mesa, Calif.-based

Volcom

( VLCM), which makes apparel for young men and young women, jumped 26% to $23.95 on first-quarter earnings of $9.3 million, or 38 cents a share, vs. $5.5 million, or 22 cents a share, a year ago. Analysts polled by Thomson Financial were looking for 21 cents a share.

LHC Group

(LHCG) - Get Report

, a provider of home health care, saw shares rise 25.5% to $19.57. The Lafayette, La., company reported income of $5.3 million, or 30 cents a share, including an after-tax loss from discontinued operations of a penny a share. The Street, which typically doesn't include one-time items in its estimates, had forecast 29 cents a share. In the year-ago quarter, the company posted a profit of $5.8 million, or 33 cents a share.

Shares of timeshare acquirer and developer

Silverleaf Resorts

(SVLF)

, a Dallas company, tacked on 30% to $2.85. For the first quarter, net income rose 13% year over year to $7.4 million. Earnings per share climbed 12% to 19 cents, and revenue was up 22% to $65.1 million. The company guided for 2008 EPS of 70 cents.

PC Connection

(PCCC)

, a direct marketer of information technology products based in Merrimack, N.H., saw shares surge 28% to $9.56. The company reported that for the first quarter its bottom line improved 41% year over year to $4.8 million, or 18 cents a share, ahead of the Street's view of 14 cents a share.

On the losing side,

FGX International Holdings

(FGXI)

, which designs nonprescription reading glasses and costume jewelry, lost 15.7% to $11. For the first quarter, the company announced a 14% increase in net income year over year to $2.2 million, or 10 cents a share. The company beat analysts' estimates, but guided below consensus for the second quarter. FGX expects EPS between 16 and 18 cents, below the Street's view of 19 cents.

Spokane, Wa.'s

Gold Reserve

(GRZ)

shares tumbled 14.4% to $2.38. The company announced that the Venezuelan Ministry of the Environment has announced it will rescind a March 2007 permit relating to its mining projects in the country. JPMorgan and RBC Capital Markets followed that news with downgrades to neutral from overweight and to underperform from outperform, respectively.