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Benzinga's Microcap Movers for Tuesday May 22, 2012

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

ECOtality

Shares of ECOtality (NASDAQ: ECTY), the San Francisco, CA clean electric transportation and storage technologies, rose 15.20% Tuesday on 20 times the average daily volume.

ECOtality, a leader in clean electric transportation and storage technologies, reported financial results for the first quarter ended March 31, 2012 on Monday.

Revenue in the first quarter of 2012 increased 215% to a record $13.7 million, as compared to $4.3 million in the same year-ago quarter. The increase in revenue was largely attributed to the continued roll out of network infrastructure for the EV Project and by a Blink® network licensing agreement. The EV Project is a public-private partnership with the Department of Energy that seeks to develop, implement and study techniques for optimizing the deployment of a commercially viable EV charging infrastructure.

The first quarter of 2012 represented the company's first profitable quarter, which was driven primarily by EV Project revenue and a Blink® network licensing agreement. Net income in the first quarter of 2012 was $1.2 million or $0.04 per basic and diluted share, as compared to a net loss of $6.8 million or $(0.51) per basic and diluted share in the same year-ago quarter.

ECOtality closed at $0.77 on Tuesday.

Genetic Technologies

Shares of Genetic Technologies (NASDAQ: GENE), the Australia-based provider of genetic testing services, rose 65.57% Tuesday on 27 times the average daily volume.

Genetic Technologies provided an update on BREVAGen sales and the "credentialing" process with the top ten U.S. Preferred Provider Organizations on Tuesday. To date, the Company has executed credentialing contracts with four PPOs which represents an estimated 13 million covered lives in the U.S. Progress with these leading PPOs has been a key driver of improved BREVAGen revenue collection.

Total revenue received from BREVAGen™ sales in the period from January to April 2012 represented over 63% of all revenues received since the test was launched in June 2011. In addition to the improvement in reimbursement, the month of April saw appreciable sales uptake, with unit sales increasing to 48% higher than the year-to-date monthly average.

Specific credentialing contracts have been executed with Prime Health Services, National Preferred Provider Network/PlanCare America/Ohio Preferred Provider Network LLC (NPPN/OPPN), Galaxy Health Network and Fortified Provider Network. Prime Health Services' Group Health PPO has over 600,000 physicians, ancillary services and hospitals nationwide with in excess of 6 million covered lives. NPPN/OPPN has more than 550,000 physicians, nearly 4,000 acute care facilities, and more than 90,000 ancillary care provider locations in their network. NPPN/OPPN estimate that they account for several million covered lives. Galaxy Health Network has over 400,000 directly contracted Physicians, Facilities and Hospitals and over 3.5 million covered lives. Fortified Provider Network has a presence in all 50 States and over 1.5 million covered lives.

Genetic Technologies closed at $3.99 on Tuesday.

PFSweb

Shares of PFSweb (NASDAQ: PFSW), the Allen, TX provider of business process outsourcing and ecommerce solutions, rose 19.46% Tuesday on almost twice the average daily volume.

PFSweb announced Tuesday the expansion of the customized e-commerce solution for Suunto, a leading designer and manufacturer of sports precision instruments for diving, training, mountaineering, hiking, skiing and sailing. PFSweb now supports Suunto's e-commerce activity in France, Germany, Poland, Austria, UK and Sweden, with additional European countries to follow.

PFSweb is providing a custom logistic solution to support Suunto's e-commerce activity, including inventory control and warehousing, order fulfillment, quality control, fraud mitigation, returns management and client services from PFSweb's facility in Liege, Belgium. PFSweb also provides high‐touch customer care services, including chat functionality and e-mail support services in multiple languages.

PFSweb closed at $3.07 on Tuesday.

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.

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