Benzinga's Microcap Movers for Wednesday September 12, 2012
Below are highlights from Benzinga's daily coverage of small cap and microcap securities making big moves:
Shares of Point.360 (NASDAQ: PTSX), the Burbank, CA audio-visual management company, rose 65.51% Wednesday on 26 times average volume.
Point.360 announced Wednesday results for the three and twelve month periods ended June 30, 2012, including sales of $35.0 million and income per share of $0.04 for the twelve months ended June 30, 2012. For the quarter ended June 30, 2012, the Company's sales were $9.0 million generating income of $0.06 per share. The Company also reported $4.5 million of earnings before interest, taxes, depreciation and amortization and non-cash charges (EBITDAN) for the twelve-month period, and EBITDAN of $1.5 million for the three-month period.
Point.360 closed at $0.96 on Wednesday.
Shares of Mindspeed Technologies (NASDAQ: MSPD), the Newport Beach, CA designer and developer of semiconductor solutions for communications applications in the wireline and wireless network infrastructure, rose 28.13% Wednesday on 7.5 times average volume.
Mindspeed Technologies today announced Wednesday that it has raised its fiscal fourth quarter 2012 guidance previously provided on July 23, 2012. Mindspeed now forecasts revenue in the range of $35 to $36 million, versus a prior range of approximately $33.5 to $35.5 million.
Mindspeed Technologies closed at $3.28 on Wednesday.
China Hydroelectric (NYSE: CHC), the China-based hydroelectric power company, rose 15.18% Wednesday on higher than average volume.
The Board of Directors of China Hydroelectric Corporation announced Wednesday that it has issued the following letter to its shareholders in response to recent actions taken by a minority shareholder group:
As you are aware, a group of minority shareholders (the "Insurgents") of China Hydroelectric Corporation (the "Company") has sought to unilaterally call an extraordinary general meeting of shareholders in an attempt to acquire control of your Company by seeking to replace the Company's Board of Directors (the "Board") with their own nominees. The Board is more resolute than ever that these efforts being pressed by the Insurgents are not in the best interests of a majority of shareholders.
China Hydroelectric closed at $1.29 on Wednesday.
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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