Benzinga's Small Cap Movers for Monday February 11, 2013
Below are highlights from Benzinga's daily coverage of small cap securities making big moves:
Medical Action Industries
Shares of Medical Action Industries (NASDAQ: MDCI), the Brentwood, NY developer, manufacturer and distributor of disposable medical products, rose 25% Monday on 5.5 times average volume.
Medical Action Industries reported Monday, financial results for the third quarter ended December 31, 2012, including quarterly net sales of $109.4 million and gross profit of $19.1 million or 17.5% of net sales. The Company generated non-GAAP net income (before a goodwill impairment charge and certain professional fees) of $1.6 million or $0.10 per diluted share and EBITDA, as adjusted, of $6.1 million.
Medical Action Industries closed at $5.88 on Monday.
Advanced Photonix (NYSE: API), the Ann Arbor, MI supplier of a broad offering of optoelectronic products to a global customer base, rose 15% Monday on 1.5 times average volume.
Advanced Photonix reported Mondaym, results for the third quarter ended December 28, 2012. Net sales for the quarter were $5.8 million, a decrease of $0.7 million or 10% from the third quarter ended December 30, 2011. Sequentially, revenues were up 4% relative to the second quarter of fiscal 2013.
The Non-GAAP net loss for the third quarter of fiscal 2013 was $700,000 or $0.02 per diluted share, as compared to a Non-GAAP net loss of $317,000, or $.01 per diluted share, for the third quarter last year.
Advanced Photonix closed at $0.70 on Monday.
Shares of Cardica (NASDAQ: AMSC), the Devens, MA global solutions provider serving the wind and power grid industry, rose almost 10% Monday on lower than average volume.
AMSC announced Monday, that it has received an order worth in excess of $30 million for wind turbine electrical control systems from Inox Wind Limited, part of India's Inox Group of Companies. AMSC expects to begin shipments under this new order during the current quarter and complete shipments in 2014. This is the fifth and largest order that AMSC has received from Inox since the company began volume production of its 2 megawatt wind turbines, which were licensed from AMSC in May 2009.
AMSC closed at $3.13 on Monday.
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