First Solar ( FSLR), which makes semiconductors for solar energy conversion, surged more than 15% in late trading Tuesday after it swung to a fourth-quarter profit that toppled Wall Street's downside expectations. The Phoenix-based company earned $8 million, or 12 cents a share, reversing a year-ago loss of $7.2 million, or 14 cents a share. Analysts were looking for a loss of 7 cents a share, according to Thomson Financial. Revenue nearly quadrupled to $52.7 million, besting estimates by $10.1 million. Shares were up $5.22, or 15.2%, to $39.50. ADDvantage Technologies ( AEY) saw lower earnings that beat Street projections. The electronics distributor had a profit of $1.4 million, or 14 cents a share, compared with $1.5 million, or 15 cents a share, a year ago. Revenue, at $14.7 million, was slightly lower than last year. However, the analyst who follows the company was looking for 9 cents a share on $13.5 million in sales. Shares were soaring 83 cents, or 26.2%, to $4. Small-cap Mad Catz Interactive ( MCZ) jumped after the video-game accessories maker said it earned $3.7 million, or 7 cents a share, in the quarter ended Dec. 31, compared with break-even a share last year. Sales were down 19% from last year to $36.5 million. Chief Executive Darren Richardson attributes the strong earnings, despite the sales drop, to the company's "strategy of eliminating less profitable product placements, adding higher margin products and continuing to reduce operating costs." Shares were gaining a nickel, or 7.7%, to 70 cents.
Invitrogen ( IVGN) was higher after the Carlsbad, Calif., biotech said fourth-quarter earnings came to $49.7 million, or $1.01 a share, excluding items, among them a large goodwill impairment charge that pushed its GAAP-based earnings into the red. Adding in the 13-cents-a-share cost of stock options, non-GAAP profits beat Wall Street's consensus by 15 cents a share. In another piece of good news, the company will sell its BioReliance unit to private-equity firm Avista Capital Partners for about $210 million. The deal will likely close in the second quarter. Shares were rising $3.14, or 5.2%, to $63.50. Photon Dynamics ( PHTN) shares were falling after it swung to a fiscal first-quarter loss of $6 million (excluding items), or 36 cents a share, and nearly halved its revenue to $21.4 million year over year. Last year, the San Jose, Calif., company, which makes systems for the manufacture of flat-panel displays, had a profit of $5.5 million, or 32 cents a share. Analysts were predicting losses of 50 cents a share on $17.6 million in revenue. Shares were losing 88 cents, or 7.2%, to $11.30. Watts Water Technologies ( WTS), which makes products for water safety and quality, dropped on lower-than-expected fourth-quarter earnings. Excluding restructuring charges, income came to $19.2 million, or 54 cents a share, which falls short of Street targets by 7 cents a share. Last year the North Andover, Mass.-based company earned $15.2 million, or 46 cents a share, by the same measure. Shares were receding $3.35, or 7.7%, to $40. Eclipsys ( ECLP) lost ground after the health care information-software company narrowed its GAAP-based earnings to $3.9 million, or 7 cents a share, from $5 million, or a dime a share, a year ago. Sales were up about 10% to $115.9 million. The Boca Raton, Fla.-based company was down 73 cents, or 3.7%, to $19.22.