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.