Indevus Pharmaceuticals ( IDEV) surged 11.8% in after-hours trading Tuesday after announcing it would out-license the worldwide rights to its antifungal compound aminocandin to fellow pharmaceutical Novexel, a French company spun out from Sanofi-Aventis ( SNY) that, in turn, licenses the product to Indevus.

The Lexington, Mass.-based company acquired the rights to aminocandin from Aventis in 2003 before the latter merged with Sanofi. In the out-licensing deal, Indevus says it will receive $1.5 million up front, $2 million at the start of midlevel trials and $41 million in potential milestones, plus royalties on all future sales of the product. It needn't pay "significant" milestone payments or royalties to Sanofi, either. Shares were up 90 cents to $8.50.

Versant ( VSNT) soared after the small software company nearly tripled its profits for the fourth fiscal quarter and swung to a fiscal full-year profit. For the quarter ended Oct. 31, the Fremont, Calif.-based company posted income of $1.4 million, or 38 cents a share, including a one-time gain of about $500,000 from the sale of its consulting business. This compares with $512,000, or 14 cents a share, a year ago. Revenue also rose 21% year over year to $4.6 million. In full-year 2006 the company earned $4.3 million, a solid improvement over its $14.6 million loss last year. Full-year revenue rose to $16.7 million from $15.7 million in fiscal 2005.

Looking ahead, the company projects 2007 revenue that will be just about in line with that of 2006, and before-tax income ranging between $4.4 million and $4.6 million. Shares were up $2.87, or 23.4%, to $15.12.

Optium ( OPTM) gained on impressive results for the quarter ended Oct. 28. The Chalfont, Pa.-based company, which makes optical parts for telecom and cable systems, posted GAAP earnings of $2.8 million, or 13 cents a share, compared with $377,000, or 2 cents a share, a year ago. Revenue surged 114% to $30 million.

According to Thomson Financial, the analyst who follows the company was looking for 12 cents a share. In the next quarter, Optium expects GAAP income of 12 cents to 14 cents a share on revenue between $32 million and $34 million. Shares were up $1.37, or 6.9%, to $21.20.

Connecticut-based Phototronics ( PLAB) jumped on rising profits for the fourth fiscal quarter that shot past Wall Street estimates, its disappointing full-year results notwithstanding.

The company, which makes semiconductor parts, earned $9.8 million in the quarter, or 21 cents a share, compared with $8.7 million, or 19 cents a share, a year ago. Analysts had called for income of 16 cents a share. Sales were up 3.1% to $115.3 million, a figure that also beat the $111.9 million consensus estimate. Fiscal full-year profits, however, dropped to $29.3 million, or 66 cents a share, on revenue of $454.9 million, compared with $38.7 million, or 95 cents a share, last year. The revenue represents a 3.2% rise from last year and narrowly beat analysts' mean projection of $451.3 million, but earnings fell 11 cents short of estimates. Shares, however, were up 94 cents, or 6%, to $16.72.

Novell ( NOVL) shares plunged on narrowed profits and falling revenue for both the fiscal quarter and year. In its results -- called preliminary because of an ongoing internal stock option grant investigation -- the software maker posted non-GAAP income, excluding items, of $20 million, or 5 cents a share. This beat estimates by a penny a share for the quarter ended Oct. 31, but it also represents a drop of 2 cents a share from the company's $32.2 million income a year ago. Revenue fell 14% to $245 million, and fiscal 2006 sales dropped to $967.3 million from $1.04 billion a year ago.

Looking ahead, Novell said revenue for fiscal 2007 should range from $945 million to $975 million, somewhat below Wall Street's $1 billion expectations. The company issued guidance that called for an operating margin of 5% to 7% next year, and 12% to 15% in 2008, which would be a tremendous jump from this year's 1% figure. For now, though, shares were down 63 cents, or 10%, to $5.70.

California-based Copart ( CPRT) posted a gain in third-quarter profits, but shares fled downward on disappointing revenue. For the quarter ended Oct. 28, the salvaged-vehicle services company earned 34% more than it did a year ago -- $30.3 million, or 32 cents a share, beating estimates by 2 cents a share. Revenue, however, grew only 13% to $132.1 million, trailing just behind the $136.13 million consensus estimate. Shares were down $1.72, or 5.6%, to $28.76.

If you liked this article you might like

Lackluster Finish for U.S. Stocks

Lackluster Finish for U.S. Stocks

Stocks Continue to Waver at the Flat Line

Stocks Continue to Waver at the Flat Line

Oil Slides as Stocks Post a Mixed Showing

Oil Slides as Stocks Post a Mixed Showing

Stocks Flutter Near the Flat Line

Stocks Flutter Near the Flat Line

Wall Street Falls Amid Inflation Talk

Wall Street Falls Amid Inflation Talk