Benzinga's Microcap Movers for Friday October 26, 2012
Below are highlights from Benzinga's daily coverage of small cap and microcap securities making big moves:
Shares of TeleCommunication Systems (NASDAQ: TSYS), the Annapolis, MD wireless communications company, rose 17.32% Friday on 3 times average volume.
TeleCommunication Systems reported results for the third quarter ended September 30, 2012 on Thursday. Revenue was up 24% to a record $140.1 million. Gross profit was up 18% to a record $44.1 million. Adjusted net income was $7.3 million or $0.12 per diluted share, up 9% from $6.7 million or $0.11 per diluted share in the third quarter of 2011.
TeleCommunication Systems closed at $2.10 on Friday.
Furniture Brands (NYSE: FBN), the St Louis, MO designer, manufacturer and retailer of home furnishings, rose 11.76% Friday on higher than average volume.
Furniture Brands Internationalannounced Thursday that it will release its financial results for the quarter ended September 30, 2012 before the market opens on Thursday, November 1, 2012.
Furniture Brands closed at $1.52 on Friday.
Shares of Interphase (NASDAQ: INPH), the Plano, TX information and communications technology company, rose 12.74% Friday on light volume.
Interphase reported Thursday, financial results for its third quarter ended September 30, 2012. Revenues for the third quarter of 2012 were $3.2 million, a decrease of $2.3 million when compared to revenues from the third quarter of 2011 of $5.5 million. Revenues in the quarter were primarily derived from telecommunications product revenues, which decreased to $1.9 million in the third quarter of 2012 compared to $4.4 million for the third quarter of 2011.
On October 19, 2012, the company committed to a plan intended to improve the balance between the company's telecommunications product expenses with the reduced revenue levels of this product line. This plan is expected to result in savings of approximately $1.0 million to $1.6 million in annualized operating costs. As part of this plan, the company expects to reduce the number of its employees by approximately 12% to 16%.
Interphase closed at $2.39 on Friday.
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