9 Under the Radar Stocks That Saw Buying on Friday

by: Alex Shadunsky

There were numerous stocks that rallied on Friday but here are some of the ones that soared but gained little attention following news about the companies.

Quantum Fuel Systems Technologies Worldwide (NASDAQ:QTWW) jumped 39.2% after reporting strong Q4 results. Revenues increased 242% from $2.4 million in the 4Q10 to $8.2 million in 4Q11. The increase in revenue is primarily due to increased development program revenue and product shipments to Fisker Automotive of components related to its Q-Drive hybrid drive systems. Quantum reported a loss of $0.02 per share compared to a loss of $0.74 a year ago. The improvement in net loss was primarily due to the lower operating loss and a $5.0 million non-cash unrealized gain attributable to the change in the value of its derivative liabilities that was recognized in the 4Q11.

CalAmp (NASDAQ:CAMP) closed up 21.5% after reporting strong Q1 results and forecasting continued outperformance in Q2. Total revenue for the 1Q12 was $34.6 million compared to $26.3 million for the 1Q11 due to higher revenues in the company's wireless datacom and satellite segments. The Adjusted Basis net income for the 1Q12 was $1.4 million, or $0.05 per diluted share, compared to Adjusted Basis net loss of $1.6 million, or $0.06 loss per diluted share, for the same period last year. CalAmp also issued upside Q2 EPS guidance. The company said that it continues to see strong demand for its mobile resource management products and services from the local fleet management, vehicle finance, asset tracking and stolen vehicle recovery markets. CalAmp also experienced a solid quarter with its wireless networks products with significant contribution from an important project in the railroad sector.

AZZ Inc (NYSE:AZZ) jumped 11.4% after releasing Q1 results. Revenues for the first quarter were $114.3 million compared to $77.5 million for the same quarter last year, an increase of 48%. Net income for the quarter was $9.5 million, or $0.75 per diluted share, compared to net income of $6.4 million, or $0.51 per diluted share, in last year's first fiscal quarter. The company also gave upside FY12 revenue guidance. AZZ said that opportunities are increasing, but pricing remains a challenge due to competitive forces. This has and will continue to impact its backlog growth as the company continues to adhere to its margin targets for new business.

Smith & Wesson Holding Corporation (SWHC) closed up 13.7% after reporting Q4 results. Net sales for the fourth quarter were a record $111.8 million compared with $103.8 million in the year-ago quarter, an increase of 7.7%. Net income for the fourth quarter was $0.02 per diluted share compared with $0.04 per diluted share, for the comparable quarter last year. Current fourth quarter results include the negative impact of $0.08 per diluted share related to its security solutions division and the negative impact of $0.05 per diluted share related to unusual expenses during the quarter. Firearm backlog grew to $186.7 million at year end, an increase of $112.9 million from the end of the third quarter and $78.7 million higher than at the end of the previous fiscal year. The increase reflected strong orders for Smith & Wesson products that were strategically price repositioned as well as several recently launched new products.

Roberts Realty Investors (NYSEMKT:RPI) rose 13.7% after two announcements. First, announced it has signed a contract to sell its 11-acre parcel of land located off of GA 400 and Northridge Road in Sandy Springs, Georgia for $5,060,000 plus the reimbursement of certain development and construction expenses in the amount of $303,789. Roberts Realty also announced that it retained Sandler O'Neill + Partners to explore potential strategic alternatives for the REIT. Sandler O’Neill added that "given the uncertainty in the IPO market, we believe a larger, private real estate operator would welcome the opportunity to merge into Roberts Realty."

Oshkosh (NYSE:OSK) rallied 13.9% after it was disclosed in a 13D filing that Carl Icahn acquired a 9.5% stake. In the filing, Carl Icahn said that he acquired the shares in the belief that they were undervalued. He also said that he intends to seek to have conversations with management of the Issuer to discuss enhancing shareholder value.

Zogenix (NASDAQ:ZGNX) climbed 11.5% after it announced today that it entered into a $30 million royalty financing agreement with Cowen Healthcare Royalty Partners. In addition, Cowen Royalty will make an equity investment of $1.5 million in Zogenix common stock and will receive warrants exercisable for 10 years into 225,000 shares of Zogenix common stock at an exercise price of $9.00 per share.

InterDigital (NASDAQ:IDCC) closed up 15.0% after a strong wireless patent auction for Nortel forced investors to reevaluate the value of InterDigital's patent portfolio. Nortel Networks (OTC:NRTLQ) announced that it concluded a successful auction of all of Nortel’s remaining patents and patent applications. After a multi-day auction, a consortium emerged as the winning bidder with a cash purchase price of $4.5 billion. The sale includes more than 6,000 patents and patent applications spanning wireless, wireless 4G, data networking, optical, voice, internet, service provider, semiconductors and other patents. InterDigital holds approximately 8,800 U.S. and foreign issued patents combined. In addition, it has almost 10,000 patent applications in process around the world.

Christopher & Banks (NYSE:CBK) jumped 13.0% it reported Q1 results that beat EPS and revenue estimates. Total net sales were $123.8 million, as compared to $126.2 million for the first quarter of fiscal 2011. Same store sales decreased 2% in the first quarter of fiscal 2012. Net income for the quarter was $0.05 per diluted share, reflecting an effective tax rate of 8.7%, which is significantly lower than the statutory rate. The lower rate was due to the company’s recognition of a full valuation allowance against its deferred tax assets in the third quarter of fiscal 2011. The lower tax rate benefited diluted earnings per share by approximately $0.02 in the first quarter of fiscal 2012. The company said that it expects same-store sales for the second quarter of fiscal 2012 to be flat to a low single digit increase as compared to the second quarter of fiscal 2011.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

About this article:

Author payment: $35 + $0.01/page view. Authors of PRO articles receive a minimum guaranteed payment of $150-500. Become a contributor »
Problem with this article? Please tell us. Disagree with this article? .