Benzinga's Microcap Movers for Monday October 1, 2012
Below are highlights from Benzinga's daily coverage of small cap and microcap securities making big moves:
Shares of Fonar (NASDAQ: FONR), the Melville, NY developer of magnetic resonance imaging scanners, rose 30.40% Monday on 31 times average volume.
FONAR shares rose on a solid earnings report Monday. Total net income for the year ended June 30, 2012, more than doubled, an increase of 108% to $6.9 million, from $3.3 million for the year ended June 30, 2011. Income from operations increased 90% from $3.8 million, for the year ended June 30, 2011, to $7.2 million for the year ended June 30, 2012.
Basic net income per common share available to common stockholders for the year ended June 30, 2012, was $0.93, an increase of 66% over the previous year ended June 30, 2011 of $0.56. Diluted net income per common share available to common stockholders for the year ended June 30, 2012, was $0.91, an increase of 65% over the previous year ended June 30, 2011, of $0.55.
Fonar closed at $4.89 on Monday.
MGIC Investment Corporation
Shares of MGIC Investment Corporation (NYSE: MTG), the Milwaukee, WI provider of mortgage insurance to lenders and government sponsored entities in the United States, rose 18.30% Monday on almost 3 times average volume.
MGIC Investment Corporation (NYSE: MTG) announced the amount of the capital contribution from MGIC Investment to Mortgage Guaranty Insurance Corporation, MGIC Investment's principal insurance subsidiary, is reduced to $100 million from the prior $200 million. Also, the date by which such contribution is to be made is extended to December 1, 2012 from September 30, 2012.
MGIC Investment Corporation closed at $1.81 on Monday.
Warrants of Spar Group (NASDAQ: SGRP), the Tarrytown, NY provider of in-store merchandising company, rose 14.46% Monday on average volume.
SPAR Group announced Monday CEO Gary Raymond has been invited to present at the 5th Annual LD Micro Conference in Los Angeles, California on Thursday, October 4th at 4:30 PM EDT. Raymond will provide an update on the company's recent acquisitions and participate in a question and answer segment with interested parties.
Spar Group closed at $1.90 on Monday.
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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