Updated from 1:22 p.m. EDT with new stock prices

Small-cap stocks pulled back Tuesday, dipping lower than the broader market in early action. The Russell 2000 lost 2% to 703.80, and the S&P SmallCap 600 gave up 1.7% to 371.14.

One of the day's big losers,

Phoenix Technologies

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( PTEC), saw shares fall 14.7% to $13.11. The Milpitas, Calif.-based maker of core systems software for PCs posted second-quarter non-GAAP income of $2.3 million, or 8 cents a share, vs. a loss of $3.2 million, or 13 cents a share, a year ago. Analysts polled by Thomson Financial were looking for EPS of a penny. However, the company missed on revenue, delivering $17.1 million in sales, compared with a consensus estimate of $17.4 million.

Also falling was Greenwood Village, Colo.-based

Red Robin Gourmet Burgers

(RRGB) - Get Report

, which slipped 4.1% to $36.68. In an

SEC

filing, the company announced it would acquire several new restaurants in Wisconsin and Minnesota.

Astec

(ASTE) - Get Report

, a Chattanooga, Tenn., provider of equipment for road and utility construction, lost 12.2% to $36.60 despite earnings that slightly exceeded expectations. The company announced first-quarter earnings of 78 cents a share, compared with 69 cents a share in the year-ago quarter. Revenue rose to $263.1 million from $215.6 million in the same period. Analysts were looking for EPS of 77 cents on revenue of $253.8 million.

Hospital operator

Medcath

( MDTH) stumbled 5.2% to $18.43 on a Stifel Nicolaus downgrade to hold from buy. On Monday, the Charlotte, N.C., company had predicted revenue between $156.7 million and $157.3 million and EPS between 25 cents and 28 cents. The Street expects revenue of $174.9 million and EPS of 38 cents.

On the winning side,

Fuel Systems

(FSYS)

gained 19.8% to $16.81. The Santa Ana, Calif.-based maker of alternative fuel components and systems for automobiles reported fourth-quarter earnings of $4.8 million, or 31 cents a share, vs. a loss of $1.2 million, or 8 cents a share, a year ago. The Street was looking for EPS of 17 cents.

Meanwhile, semiconductor maker

Volterra

(VLTR)

climbed 18.1% to $14.43. The Fremont, Calif., company reported first-quarter non-GAAP income of $3.2 million, or 13 cents a share, up 34% from the year-ago quarter. EPS came in ahead of the consensus estimate of 9 cents a share. Piper Jaffray and Collins Stewart both upgraded the stock to buy.

Finally, Sunnyvale, Calif.-based

Zoran

( ZRAN), a maker of integrated circuits for digital imaging, tacked on 14.1% to $14.37. The company announced non-GAAP income of $3.5 million, or 7 cents a share, vs. $18.1 million, or 34 cents a share, a year ago. The first-quarter EPS result was in line with the Street's estimate, and Zoran guided for second-quarter revenue of $130 million to $135 million and non-GAAP EPS between 14 cents and 18 cents. Analysts predict revenue of $126.8 million and EPS of 18 cents.