Paychex ( PAYX) reported earnings of $115 million, or 30 cents a share, for the first quarter ended Aug. 31, compared with $87.7 million, or 23 cents a share, a year ago. Revenue for the quarter rose 17% to $403.7 million. Analysts expected a profit of 28 cents a share on revenue of $389.4 million, according to Thomson First Call. "The strong economy was reflected in higher check volume growth and positive trends in new hire reporting," said Jonathan J. Judge, president and chief executive of Paychex. The stock was up $2.13, or 6.25%, to $36.22 in after-hours trading.

Air Products ( APD) said fourth-quarter earnings will be reduced by 5 cents to 7 cents a share due to Hurricanes Katrina and Rita. The company attributed its losses to property damage and business interruption in both its gases and chemicals businesses. Air Products will release its fourth-quarter earnings and fiscal 2006 earnings guidance on Oct. 26. The stock was unchanged at $55.14.

AngioDynamics ( ANGO) posted a profit of $1.3 million, or 10 cents a share, for the first quarter ended Aug. 27, versus $761,000, or 6 cents a share, a year ago. The provider of innovative medical devices said revenue for the quarter increased 25% to $16.4 million from $13.1 million last year due to strong growth from the company's new products. Analysts polled by Thomson First Call expected earnings of 9 cents a share on revenue of $16.2 million. The company said it expects revenue of $72 million for fiscal 2006 vs. Wall Street's forecast of $73.4 million. The stock was down 25 cents, or 1.09%, to $22.70 in after-hours trading.

Manugistics Group ( MANU) reported a loss of $6.1 million, or 7 cents a share, for the second quarter ended Aug. 31, compared with a loss of $17.1 million, or 21 cents a share, a year ago. Revenue for the quarter slipped 15% to $43.6 million from $51.3 million last year. Excluding items, the business software provider lost $200,000, or breakeven on a per-share basis. Analysts expected a loss of a penny a share on revenue of $45.5 million, according to Thomson First Call. The stock was down 9 cents, or 4.43%, to $1.94 in after-hours trading.

Affymetrix ( AFFX) announced that it expects third-quarter revenue to be $10 million to $12 million below its previous guidance, due to low initial production yields of its most advanced commercial product, the 500K Mapping Array Set. "While we have recently seen improving yields, these improvements occurred late in the quarter and we now project that we will be unable to manufacture enough product to meet our revenue target," said Stephen P.A. Fodor, the CEO. The stock was down $4.16, or 9.8%, to $38.30 in after-hours trading.

Mohawk Industries ( MHK) lowered its third-quarter earnings guidance due to the impact of Hurricane Katrina on raw material and energy costs. According to Mohawk, Katrina has caused a significant cost increase in carpet raw materials and possible supply disruptions. The company also said internal and external transportation cost increases have not been fully recovered in their prices and surcharges. Mohawk said it now expects to earn $1.60 to $1.63 a share for the third quarter and $1.49 to $1.58 a share for the fourth quarter. Any impact of Hurricane Rita has not been included in its fourth quarter forecast. The stock was down $3.50, or 4.49%, to $74.50 after-hours trading.

Tower Semiconductor ( TSEM) announced that it will manufacture a highly secure memory controller for SanDisk's ( SNDK) new TrustedFlash memory cards. The TrustedFlash cards are used in portable devices. Tower Semiconductor was up 19 cents, or 16.24%, to $1.36 and SanDisk was up 8 cents, or 0.18%, to $44.40 in after-hours trading.

Sterling Financial ( STSA) said that it was updating its third-quarter and full-year fiscal 2005 earnings estimate to reflect slower-than-expected growth in loan balances and the impact of the flattening yield curve. Sterling now anticipates third quarter earnings of 38 cents to 44 cents a share for the third quarter and earnings of $1.67 to $1.77 a share for fiscal year 2005. Analysts were expecting third quarter earnings of 46 cents a share and $1.86 a share for the year, according to Thomson First Call. The stock was unchanged at $25.64.

Aehr Test Systems ( AEHR) reported a net loss of $244,000, or 3 cents a share, for the first quarter ended Aug. 31, vs. a loss of $1.3 million, or 18 cents a share, a year ago. Revenue for the quarter was $4.6 million compared with $5.9 million last year. The Freemont, Calif.-based company expects second quarter new sales to be significantly higher than the quarter just reported. The stock was up 75 cents, or 27.27%, to $3.50 in after-hours trading.