Benzinga's Microcap Movers for Friday May 11, 2012
Below are highlights from Benzinga's daily coverage of microcap securities making big moves:
Shares of Goldfield Corporation (NYSE: GV), the Melbourne, FL provider of electrical construction and maintenance services in the energy infrastructure industry, rose 45.45% Friday on 5.5 times the average daily volume.
Goldfield Corporation announced Friday continued improved results for the three months ended March 31, 2012. Revenue for the three months ended March 31, 2012 nearly doubled, increasing to $17.7 million from $8.9 million in the comparable prior year period. This increase was attributable to higher electrical construction revenue.
Because of improved results in the electrical construction segment, the Company's operating income for the three months ended March 31, 2012 increased to $2.7 million from an operating loss of $1,000 in the same prior year period.
Net income for the three months ended March 31, 2012 was $2.7 million, or $0.10 per share, compared to a net loss of $11,000, or ($0.00) net loss per share, in the comparable prior year period.
John H. Sottile, Goldfield's President and Chief Executive Officer stated, "The prospects for our electrical construction business are brighter today than at any time in recent history. Our backlog at March 31, 2012 was $70.6 million, up from $6.2 million at March 31st last year."
Goldfield Corporation closed at $1.60 on Friday.
Shares of Virtual Piggy (VPIG), the Philadelphia, PA provider of online solutions for parents and merchants that allow children to interact online in a safe and secure manner, rose 24.04% Friday on 7 times the average daily volume.
Virtual Piggy announced on Monday that it had signed an agreement to provide its e-commerce solution for under 18s to YuuPay, an internationally recognized provider of efficient online and mobile payments. The share price rose steadily all week, doubling from it's opening price on Monday of $1.15.
Virtual Piggy closed at $2.27 on Friday.
Shares of IZEA (IZEA), the Orlando, FL social media sponsorship provider, rose 27.72% Friday on 14 times the average daily volume.
IZEA on Wednesday provided high-level guidance for its 2012 fiscal year. Revenue for the company is expected to double over fiscal year 2011 to $8.6 million, fueled by its May 2012 sales pipeline of $9.1 million that has increased by 50% since January 2012 and doubled since May last year.
The company's annual gross profit margin is expected to increase to 56-60%, up from 55% in 2011 and 52% in 2010. The company attributes the margin growth over the past three years to the unique value it provides to clients, optimization of existing platforms and increased demand for managed services.
IZEA closed at $0.65 on Friday.
The information in this article is taken from public sources, press releases, and websites that cannot always be verified. Please note that investing in microcap stocks is highly speculative. The companies mentioned here are for information purposes only. Benzinga makes no claim as to the suitability of these stocks as an investment. Neither Benzinga nor its staff recommend that you buy, sell, or hold any security. We do not offer investment advice, personalized or otherwise. Benzinga recommends that you conduct your own due diligence and consult a certified financial professional for personalized advice about your financial situation.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.