Market Overview

Benzinga's Microcap Movers for Friday March 23, 2012

Below are highlights from Benzinga's daily coverage of microcap securities making big moves:

Dialogic

Shares of Dialogic (NASDAQ: DLGC), the Milpitas, CA provider of communications platforms and technology that enable service providers to build Internet protocol or packet based networks worldwide, rose 89% Friday on 17 times the average daily volume.

Dialogic announced Friday its fourth quarter and full year financial results for the period ending December 31, 2011. Total Revenue for the fourth quarter of 2011 was $50.4 million, an increase of 5.0% compared to $48.0 million for the third quarter of 2011. Adjusted EBITDA for the fourth quarter of 2011 was the highest in company history at $4.4 million, an increase of 340% compared to $1.0 million for the third quarter of 2011.

“Since early 2011, we have been actively focused on reducing costs and have decreased annualized operating expenses by approximately $25 million between the first and fourth quarter of 2011,” said John Hanson, Dialogic Chief Financial Officer. “We continue to evaluate and pursue cost management opportunities by sharpening our focus on outsourcing, strategic sourcing and other key measures that could yield an additional annualized cost savings of $18 - $20 million by the end of the fourth quarter of 2012.”

Dialogic closed at $1.36 on Friday.

TearLab Corporation

Shares of TearLab Corporation (NASDAQ: TEAR), the San Diego, CA ophthalmic device company, rose 25% Friday on 7.5 times the average daily volume.

TearLab on Thursday reported its consolidated financial results for the quarter and the year ended December 31, 2011. For the three months ended December 31, 2011, TearLab's net revenues were $499,000 as compared to $798,000 for the same period in 2010. The Company's net loss for the three months ended December 31, 2011 was approximately $3.5 million, or $0.17. This included approximately $0.7 million in non-cash expense related to the revaluation of warrants arising from the June 2011 private placement financing. The loss for the three months ended December 31, 2010 was $0.9 million, or $0.06 per share.

For the year ended December 31, 2011, TearLab's net revenues were $2,124,000 as compared to $1,701,000 for the same period in 2010. The Company's net loss for the year ended December 31, 2011 was approximately $8.8 million, or $0.50 per share. For the year ended December 31, 2010, the loss was $6.7 million, or $0.47 per share. 2011 cash used in operating activities was approximately $6 million.

TearLab Corporation closed at $3.62 on Friday.

New Frontier Media

Shares of New Frontier Media (NASDAQ: NOOF), the Boulder, CO of adult entertainment pay-per-view television, rose 16% Friday on 6 times the average daily volume.

New Frontier Media confirmed that it has received an unsolicited, non-binding, conditional acquisition proposal from Manwin Holding SARL, a provider of adult entertainment, through online, television and mobile distribution platforms, indicating its interest in pursuing the acquisition of all of the outstanding shares of New Frontier Media for $1.50 per share in cash, subject to due diligence and other conditions.

As previously announced, earlier this month, New Frontier Media also received an unsolicited, non-binding, conditional acquisition proposal from Longkloof Limited, an investment holding company, indicating its interest in pursuing the acquisition of all of the outstanding shares of New Frontier Media not owned by Longkloof for $1.35 per share in cash, subject to due diligence and other conditions.

New Frontier Media closed at $1.43 on Friday.

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