Cooper Companies ( COO) tumbled 10.5% following the closing bell Tuesday after the California-based outfit posted a drop in full-year 2006 earnings and deflated its 2007 outlook. The company, which makes health care supplies, did earn more in the quarter ended Oct. 31 -- $13.6 million, or 30 cents a share -- compared with year-ago income of $8.6 million, or 19 cents a share. But fourth-quarter revenue dipped 2%, and full-year fiscal 2006 earnings fared even worse, dropping to $66.2 million, or $1.44 a share, compared with $91.7 million, or $2.04 a share, in 2005. Full-year revenue edged up only 6% to $859 million, missing Wall Street estimates by some $20 million, according to Thomson Financial. The company now expects its 2007 earnings to range between $2.90 to $3.05 a share, excluding items, down from its previous forecast of $3.35 to $4. Revenue guidance was cut, as well, to range between $920 million and $960 million, from its previous prediction of $948 million to $1 billion. This still covers Wall Street's $958.9 million expectations, but shares were down $5.20, or 10.5%, to $44.25, in after-hours trading. Martek Biosciences ( MATK) shot up on increased revenue for the quarter and year ended Oct. 31, despite plunging GAAP profits largely blamed on a one-time $3 million restructuring charge. The Columbia, Md.-based company posted fourth-quarter GAAP income of $641,000, or 2 cent a share, compared with $4.9 million, or 15 cents a share, a year ago. But non-GAAP income, which takes into account the charge and stock-based compensation, came to $4 million, or 12 cents a share. Revenue increased 20% to $56 million for the quarter, with full-year 2006 revenue swelling 24% to $270.7 million. GAAP income for the year totaled $17.8 million, or 55 cents a share, compared with $15.3 million, or 48 cents a share, last year. But non-GAAP 2006 earnings reflect a more dramatic increase -- a total of $22.9 million, or 71 cents a share -- without the charges. Shares were up $1.19, or 5.1%, to $24.55.
Micro-cap Mamma.com ( MAMA) continued rising after its
Tuesday surge sparked by the release of its new video search engine. The Internet search company says the product can search multiple Web providers based on "relevance, categories, photos and videos." The search engine is powered by the Pixsy Media Search Platform. Shares were up 16 cents, or 3.7%, to $4.44. Peerless Systems ( PRLS) plunged after it swung to a fiscal third-quarter loss. The small California-based software company lost $18,000, or break-even a share, compared with net income of $1 million, or 6 cents a share, a year ago. The analyst who follows the company was expecting a profit of a penny a share. Revenue for the quarter ended Oct. 31 shrunk to $5 million from $5.9 million a year ago, missing the analyst estimate by about $2.7 million. Peerless reiterated its full-year 2007 guidance, which predicted income of roughly $3 million and revenue in the range of $33 million to $36 million. Shares were down 61 cents, or 16.4%, to $3.12 in after-hours trading. ADC ( ADCT) fell on soft guidance and concerns about an inventory buildup. The Minneapolis-based networking gearmaker posted an adjusted profit of $37 million, or 28 cents a share, for the fiscal fourth quarter ended Oct. 31. Those numbers compare with pro forma earnings of 18 cents a share a year ago. Analysts were looking for an adjusted profit of 18 cents a share. Total sales for the quarter were $307.4 million, up from $294 million in the same period a year ago. The analyst consensus called for sales of $303 million. Looking ahead, ADC forecasts next-quarter sales to be down about 15% sequentially. Shares were down 66 cents, or 4.7%, to $13.45, after hours.