Zanett ( ZANE) shares doubled after its Paragon Dynamics subsidiary was part of a contractor group that won a contract to provide software development and management support for a five-year Department of Homeland Security program with up to $45 billion in funding. New York-based Zanett was up $1.19 to $2.55. Abaxis ( ABAX) was surging on impressive fiscal third-quarter results, with income totaling $2.8 million, or 13 cents a share -- a jump from last year's $1.9 million, or 9 cents a share, and a penny above two analysts' estimates, according to Thomson Financial. The Union City, Calif., maker of portable blood-analysis systems said sales grew 26% to $22 million, slightly below the consensus. Shares were adding $3, or 17.7%, to $20. GeoMet ( GMET) recovered all of its heavy losses from the past two days, and then some, after the driller announced a 24% increase in its 2006 proved coalbed methane resources to about 325.7 billion cubic feet, with a total future net value pegged at $526 million. The Houston-based company also estimates a 36% climb from 2005 in average daily sales volumes, to 17.1 million cubic feet. It forecasted a less rosy 2007, with sales growth expectations of just 14% to 18%, depending upon a "timely and satisfactory resolution" of the court injunction that halted construction on one of its pipelines and helped pound the company's stock earlier this week. But shares were rising $1.54, or 18.1%, to $10.04.
Optical Cable jumped after the maker of fiber-optic cables more than quadrupled its fiscal fourth-quarter profits from last year, to $751,000, or 13 cents a share, and brought in 7.1% more revenue to $12.6 million. Fiscal 2006 results for the year ended Oct. 31 were less impressive, with earnings at $351,000, or 6 cents a share -- sharply down from 2005's $1.2 million, or 20 cents a share -- and about flat sales of $45.3 million. The Roanoke, Va., company was up 65 cents, or 13.3%, to $5.55. LECG ( XPRT) tumbled on falling fourth-quarter guidance. The Emeryville, Calif., financial-analysis firm now expects income of between $3.4 million and $3.9 million, or 14 cents to 15 cents a share, down sharply from the prior range of between $6.2 million and $6.9 million, or 25 cents to 27 cents a share. Revenue guidance was cut slightly, to a range of $88.5 million to $89.5 million, from the prior forecast of between $90 million and $95 million. Analysts are seeking 26 cents a share on $91.5 million in sales. Company executives won't get bonuses this year. LECG also restated earnings for full-year 2005 and the second and third quarters of 2006, owing to accounting errors, which knocked a penny a share off each set of results. Shares were losing $5.12, or 27.9%, to $13.25. Arcadia Resources will periodically offer up to 13.1 million of its shares for a maximum proposed price of $2.03 apiece, or $26.5 million. The home health care company itself will sell up to 5 million shares, and the rest will come from stockholders. Shares of the Michigan-based company were falling 11 cents, or 5.8%, to $1.75. Interactive Systems Worldwide might be delisted from the Nasdaq for simultaneously failing to have $2.5 million in stockholders' equity, falling short of $35 million in market value, and posting less than $500,000 in full-year income for its most recent couple of years. The New Jersey-based gambling-software company was down 8 cents, or 6.3%, to $1.20.