The cheery broader market propelled small-cap stocks higher Wednesday, and among the biggest winners was
Shares soared more than 34% after fiscal first-quarter income vaulted to $3.9 million, or 15 cents a share, from last year's 6 cents a share. That easily beats analysts' 11-cent per-share estimates, according to Thomson Financial. The San Jose, Calif., company also brought in $38.5 million in sales, a 24.8% rise from last year and about $4.4 million above consensus. Pericom shares were up $4.04 to $15.80.
That helped boost both the Russell 2000, recently up 0.6% to about 821, and the S&P SmallCap 600, which was gaining 0.4% to roughly 427. Both trackers soared earlier before getting temporarily jerked down immediately following the
decision to cut its key fed funds rate by 25 basis points.
Among other small-cap gainers, Miami's
( ANSR) more than doubled its third-quarter earnings to 7 cents a share, beating Street expectations by 2 cents. Shares of the business- and technology-consulting firm ramped up $1, or 32.4%, to $4.09.
First Consulting Group
, a consulting firm for the health-care industry, catapulted 27.3% after
agreed to take it out for $13 a share in cash. The $365 million deal should close during the first calendar quarter of next year.
FCG shares were trading at $12.70; CSC, which expects the transaction to be neutral to earnings over the first year, tacked on 1% to $57.91.
On the down side, however,
plummeted 22.1% after missing top- and bottom-line expectations for the third quarter. The Lake Mary, Fla., maker of software-based 3D measurement devices earned $4 million (excluding extraordinary items), or 25 cents a share, on $44.5 million in revenue. Analysts were looking for 32 cents a share on revenue of $48.1 million. Shares slid $8.43 to $29.65.
( SUMT), meanwhile, sank 14.6% to $4.86 on a below-par fourth-quarter outlook. The talent- and learning-management software developer expects non-GAAP earnings of 2 cents to 5 cents a share on revenue of $28 million to $30 million. Analysts are seeking 15 cents a share on $37.6 million. As for the most recent quarter, earnings met expectations and sales were just under.
Elsewhere in negative territory, restaurant operator
Buffalo Wild Wings
and rapid-prototyping-devices maker
each missed per-share earnings targets by 2 cents with respective profits of 24 cents a share and 16 cents a share (non-GAAP). Shares of the companies plunged by 20.8% to $30.80 and 12.1% to $25.85, respectively.