Shares of Martek Biosciences ( MATK) jumped 11% in late trading Tuesday after the company reported better-than-expected fiscal first-quarter results. The company, which makes products based on the omega-3 fatty acid DHA, posted earnings of $5.6 million, or 17 cents a share, for the quarter ended Jan. 31. Excluding stock-based compensation costs, earnings were 19 cents a share, beating Thomson First Call's average analyst estimate by 6 cents. A year earlier, Martek earned $7.1 million, or 23 cents a share. Revenue, meanwhile, fell to $62.9 million from $66.5 million but topped Wall Street's forecast of $61 million. Martek shares gained $3.47 to $34 in after-hours trading. Shares of Focus Media ( FMCN) sank in late trading after the company posted its fourth-quarter results and announced an acquisition. The Chinese media company reported a fourth-quarter profit of $9.4 million, reversing a year-earlier loss of $1.8 million. Excluding stock-based compensation and amortization, Focus Media earned $9.6 million, or 23 cents per American depositary receipt, compared with a loss of $1.3 million, or 9 cents an ADR, a year earlier. Revenue jumped to $24.6 million from $11.8 million. One analyst had forecast earnings of 23 cents a share and revenue of $23 million. Looking ahead, the company projected first-quarter revenue of $28 million to $30 million. The lone analyst estimate calls for revenue of $31 million. Separately, Focus said it plans to buy Dotad Media Holdings, a provider of mobile-phone advertising services, for $15 million in cash and up to $15 million in stock. Focus said Beijing-based Dotad operates the largest wireless-access protocol-based advertisement delivery system in China. Shares shed $3.78, or 7%, to $50.80 in after-hours trading Tuesday. Distributed Energy ( DESC) fell after cautioning that it will see a decline in revenue in the first half of the year. For the fourth quarter, the company reported a loss of $3.4 million, or 9 cents a share, narrowed from a year-earlier loss of $4 million, or 11 cents a share. Revenue fell to $11 million from $11.4 million. Analysts projected a loss of 10 cents a share and revenue of $11 million.
Distributed Energy said it expects revenue in the first half of 2006 to be lower than in the corresponding year-earlier period due to the timing of orders and a spike in gas prices that hurt its energy-services business. The company expects first-quarter revenue to drop 25% from last year, with second-quarter revenue lower to a lesser extent. In terms of the bottom line, the company expects a first-quarter loss roughly equal to a year ago, before stock-option costs. The company's shares tumbled $1.59, or 17%, to $7.88 in after-hours trading. Shares of Cooper Cos. ( COO) declined after the contact-lens maker missed Wall Street's first-quarter earnings expectations and lowered its full-year forecast. The company posted earnings of $18 million, or 39 cents a share, compared with a year-ago profit of $17.7 million, or 46 cents a share. Excluding items, the company's earnings for the quarter ended Jan. 31 totaled 58 cents a share; analysts expected earnings of 64 cents a share on this basis. The earnings were below Cooper's own forecast of 63 cents to 65 cents a share. Revenue, however, increased 39% to $205.7 million, exceeding Wall Street's forecast of $204 million. For the second quarter, Cooper anticipates earnings of 67 cents to 77 cents a share, excluding charges but including stock-options expenses. The company sees revenue of $215 million to $227 million. For the year, the company now expects revenue of $908 million to $936 million and earnings of $3.15 to $3.35 a share. The company's previous guidance called for revenue of $933 million to $946 million and earnings per share of $3.34 to $3.44. Shares fell $2.62, or 5%, to $50.15 in after-hours trading. Lattice Semiconductor ( LSCC) shares advanced after the chipmaker raised the bottom end of its first-quarter revenue projection. Lattice said it now expects first-quarter revenue to increase 4% to 5% from the fourth quarter, compared with its previous guidance of 2% to 5% growth. Based on fourth-quarter revenue of $54 million, the new projection implies a first-quarter top line of $56.2 million to $56.7 million. Analysts expect revenue of $56 million. Lattice shares rose 20 cents, or 4.4%, to $4.79 after hours.