Orthopedic product maker Orthofix International NV ( OFIX) said Thursday that its first-quarter profit fell to $3.6 million, or 21 cents a share, from $6.3 million, or 37 cents a share, in the year-ago period. Revenue rose 9% to $128 million from $117 million, beating expectations of analysts polled by Thomson Financial who expected profit of 9 cents a share on revenue of $122.5 million. The beat prompted a 12% rise in the stock, to $34.50. Costa Mesa, Calif.-based Volcom ( VLCM), which makes apparel for young men and young women, jumped 26% to $23.95 on first-quarter earnings of $9.3 million, or 38 cents a share, vs. $5.5 million, or 22 cents a share, a year ago. Analysts polled by Thomson Financial were looking for 21 cents a share. Advanced Medical Optics ( EYE) said its first-quarter net profit was $6.9 million, or 11 cents a share, down from $12.1 million, or 20 cents a share, a year earlier. Factoring out acquisition and restructuring charges, the company earned 22 cents a share, on net sales to $303.7 million. Analysts surveyed by Thomson Financial were looking for 22 cents a share, on revenue of $294.6 million. Shares rose 11.5% to $23.42. Medical technology company Hologix ( HOLX), which recently completed a 2-for-1 stock split, plummeted 18.6% to $23.75 Thursday after the company aired its second-quarter results. Revenue climbed to $431 million from $181.1 million. Hologic reported net income of $56 million, or 22 cents a share a share -- and adjusted profit of $76.2 million, vs. $24 million a year prior.
Analysts surveyed by Thomson Financial were looking for $70.6 million, and 28 cents a share, on revenue of $418 million. Spokane, Wa.'s Gold Reserve ( GRZ) shares tumbled 14.4% to $2.38. The company announced that the Venezuelan Ministry of the Environment has announced it will rescind a March 2007 permit relating to its mining projects in the country. JPMorgan and RBC Capital Markets followed that news with downgrades to neutral from overweight and to underperform from outperform, respectively. Shares of timeshare acquirer and developer Silverleaf Resorts ( SVLF), a Dallas company, tacked on 29.6% to $2.85. For the first quarter, net income rose 13% year over year to $7.4 million. Earnings per share climbed 12% to 19 cents, and revenue was up 22% to $65.1 million. The company guided for 2008 EPS of 70 cents.