Applix ( APLX) shares surged 19% after the software company reported its GAAP-based income more than doubled to $6 million, or 34 cents a share, in the fourth quarter. Excluding items, earnings came to $3 million, or 17 cents a share. A year ago the company reported earnings of $2.5 million, or 15 cents a share. Revenue shot up 45% from a year ago to $16 million. Analysts polled by Thomson Financial were looking for 14 cents a share on revenue of $14.9 million. Shares of the Westborough, Mass., company were gaining $2.07 to $12.96. Trio-Tech International ( TRT), which makes semiconductor testing equipment, said its income from continuing operations totaled $799,000, or 25 cents a share, for the fiscal second quarter, up from a loss of $446,000, or 15 cents a share, last year. Last year, earnings available to common shareholders was higher, totaling $8.4 million, or $2.76 a share, but shares of the Van Nuys, Calif., company were rising $2.62, or 23.1%, to $13.98. Jaco Electronics ( JACO) swung to a profit in the quarter ended Dec. 31 and brought in a top line of $66 million, a 37% rise from last year. The Hauppauge, N.Y., electronics distributor had a profit of $149,000, or 2 cents a share, up from last year's heavy losses of $7.4 million, or $1.17 a share. Jaco stock was up 57 cents, or 16.6%, to $4.02.
Primedia's ( PRM) stock jumped on word the publisher will explore selling its Enthusiast Media unit, which focuses on magazine advertising, retaining Goldman Sachs and Lehman Brothers to manage the effort. The New York-based company had also considered spinning off its guide publishing unit, and noted that is still an option. Shares were climbing 29 cents, or 17.6%, to $1.94. Mikron Infrared ( MIKR) shares ballooned on word it will sell itself to privately held LumaSense Technologies for $11.50 a share (about $65 million), a 17.6% premium to Thursday's closing price. The Oakland, N.J., company, which makes temperature measurement equipment, was trading up $1.47, or 15%, to $11.25. Carriage ( CSV) issued solid guidance for full-year 2007, expecting earnings to range between 38 cents and 42 cents a share on revenue of between $162 million and $165 million. Two analysts are looking for profits of 27 cents a share. The Houston-based funeral home operator also issued preliminary fourth-quarter results, estimating income at $1.5 million, up from $508,000 a year ago. Sales, at $37.7 million, should be about flat with last year. Shares were rising 73 cents, or 13.6%, to $6.08. Silicon Image ( SIMG) plunged after the semiconductor company's climbing profits weren't up to snuff. The Sunnyvale, Calif., company said it earned $18.3 million, or 21 cents a share, excluding items, compared with $13.8 million, or 16 cents a share, a year ago. The Street was seeking 24 cents a share. Revenue was up 41.7% to $87 million, beating the $76.8 million consensus. Shares were losing $2.76, or 22.7%, to $9.41.
Energy Conversion Devices ( ENER) took in lower revenue of $22.9 million in the quarter ended Dec. 31 compared with last year's $24.3 million. The Michigan-based company's losses narrowed to $2.9 million, or 7 cents a share, but they came in a penny below estimates. Last year, losses totaled $5.7 million, or 19 cents a share. The company, which develops alternative-energy technologies, was sinking $5.18, or 14.6%, to $30.32. Electronics-components maker CTS ( CTS) was falling on deflated full-year expectations. The Elkhart, Ind.-based company now projects adjusted income of between 66 cents and 70 cents a share, down from 74 cents to 77 cents previously, and at least 4 cents below two analysts' targets. Last week the company delayed its earnings announcement due to newly discovered accounting errors, which are also to blame for the slashed guidance. Shares were off $2.46, or 15.5%, to $13.41. Microtune ( TUNE) was lower after the Plano, Texas-based semiconductor company said it expects a GAAP-based fourth-quarter loss of between 6 cents and 7 cents a share, and that full-year losses will likely be between 9 cents and 10 cents a share. Included in these totals are $3.3 million in fees from an internal stock option investigation and a restatement. The company also said fourth-quarter revenue rose 11% from a year ago to $16.6 million, meeting Wall Street estimates, and that sales in the next quarter should be between $18 million and $19 million. Analysts are seeking $18.1 million. Shares were sliding 50 cents, or 9.6%, to $4.73.
Computer maker Gateway ( GTW) dropped on mixed preliminary results. The Irvine, Calif., company saw slightly lower fourth-quarter revenue of $1.02 billion, compared with year-ago sales of $1.12 billion. It also swung to a fourth-quarter profit of $8.8 million, or 2 cents a share, compared with a loss of $20.9 million, or a nickel a share, last year, meeting Wall Street expectations. Full-year sales rose to $3.98 billion from $3.85 billion in 2005, but full-year profits were essentially flat with last year, totaling $7 million, or 2 cents a share. Shares were lower by 19 cents, or 8.8%, to $1.96. Shares of Kosan Biosciences ( KOSN) slipped on word the Hayward, Calif., biotech will sell about 7 million of its shares at $6.50 each to institutional investors. The deal will raise about $45.5 million in gross proceeds. Shares were down 35 cents, or 5%, to $6.60.