Much like BigCap Wal-Marts (NYSE:WMT) Q2 news today, reporting that its profits are 'flat', so too goes the market in early trading. But, some SmallCap stocks like CECO Environmental (CECE), Ultrapetrol Ltd., (ULTR) and Imperial Sugar (IPSU) posted gains on earnings and Investment Banker Rodman & Renshaw (RODM) got a boost by placing some much needed financing for Palatin (PTN).
Gaining as much as 19.40% ($0.52) today on continued enthusiasm over Q2 09 comments by management, CECO Environmental (CECE) http://www.cecoenviro.com/ set a new market cap of $44 million by 11 a.m. EST. CECE is currently trading on the Nasdaq in the $3.06 range. Trading volume today is over 200k shares.
CECE posted some less than spectacular numbers for Q2, but management's pro-active steps taken during the quarter really settled down investors from reacting pessimistically.
CECE Q2 year-over-year net sales decreased from $57.4 million to $33.5 million. Gross profit decreased from $10.5 million to $7.6 million. While CECE gross margins increased to 22.7% from 18.3%, its net loss was $(0.6) million compared to net income of $1.0 million in 2008. CECE net loss per diluted share was $(0.04) compared to net income per diluted share of $0.07 in 2008.
I think the action of management during the quarter saved the day: CECE focused on cost reductions and operational efficiencies and significantly increased foreign market exposure to capitalize on an economic recovery with a new revenue stream. Good job.
CECE makes, sells and installs air pollution control products that capture, clean, and destroy contaminants from industrial facilities. Think... Green.
At $3.06, CECE is below its 52-week high of $5.25 set on 08-14-08 and is above its 52-week low of $1.60 set on 11-12-08. At $3.06, CECE is below both its 50-day and 200-day moving averages. CECE has trailing twelve month revenues of $186 million and a trailing twelve month EPS of $0.27. Its shares out versus float ratio is a little lopsided and I would like to see more shares in the public float for stability and liquidity.
Gaining as much as 6.13% ($0.29) on earnings news this morning is Ultrapetrol Ltd., (ULTR) http://www.ultrapetrol.net/ now trading in the $5 range on the Nasdaq. ULTR has a new market cap of $145 million. ULTR has a 3-Month average daily trading volume of 227,366 shares and topped that by mid-session today.
ULTR reported Q2 09 numbers late yesterday and it posted revenues of $54.9 million. ULTR posted a net loss of $0.1 million, or $0.00 earnings per share, but its adjusted EBITDA posted a $0.10 EPS.
While these aren't spectacular numbers either, the entire delivery and shipping sector and its tributary industries is poised for a global recovery and buyers are on the lookout.
ULTR is an industrial shipping company that provides marine transportation services in South America, Europe, and Asia. ULTR serves the shipping markets for grain, forest products, minerals, crude oil, petroleum, and refined petroleum products, as well as the offshore oil platform supply market.
At $5, ULTR is off its 52-week high of $13.84 set on 08-13-09 and above its 52-week low of $1.79 set on 04-05-09. At $5, ULTR is above both its 50-day and 200-day moving averages. ULTR has trailing twelve month revenues of $293 million and a trailing twelve month EPS of $0.99. Its shares out versus float ratio is near-parity.
Getting a respectable 8.24% ($1.15) boost today on its earnings news released late yesterday is Imperial Sugar (IPSU) http://www.imperialsugar.com/ now trading on the Nasdaq in the $15.28 range. IPSU has a new market cap of $183 million. IPSU has a 3-Month average daily trading volume of 165,552 shares and by mid-session today had topped 281,908 shares.
IPSU reported a Q3 09 net loss of $10.5 million, or $0.89 per share, compared to a net loss of $12.5 million, or $1.07 per share, for the same period last year. IPSU reported that Q3 net sales increased 33% to $142.3 million, compared to $106.9 million for the same period last year. Gross margin for Q3 improved to a positive 0.2% compared to a negative 4.7% for the prior year quarter.
Much like CECE, IPSU management wasn't sitting on their hands during the most recent quarter. During Q3, IPSU completed the concrete pour of its sugar silos and work began on the interior structures. The new IPSU packaging building is now complete structurally and IPSU is installing material handling and packaging equipment. Ramp up.
IPSU was founded in 1843. The Company has seen difficult times before. IPSU processes and markets refined sugar in the United States. IPSU primarily markets its products under various brand names, such as Dixie Crystals, Holly, and Imperial, as well as under private labels.
At $15.28, IPSU is off its 52-week high of $16.74 set on 11-17-08 and is far above its 52-week low of $5.10 set on 03-05-09. At $15.28, IPSU is ahead of both its 50-day and 200-day moving averages. IPSU has trailing twelve month revenues of $500 million. Its shares out versus float ratio is near-parity.
and finally some good investment banking news...
Gaining 6.8% ($0.14) in mid-session trading today is Rodman & Renshaw Capital Group Inc., (RODM) http://www.rodmanandrenshaw.com/ now trading on the Nasdaq in the $2.20 range. RODM has a new market cap of $77 million. RODM has a 3-Month average daily trading volume of 103,809 shares and easily topped that by mid-session trading over 149,322 shares.
Late yesterday, RODM announced it will raise approximately $3.1 million for Palatin Technologies, Inc. (PTN) in a registered direct offering of 9.5 million units, at a price of $0.33 per unit. RODM is serving as the exclusive placement agent for the offering. The closing of the offering is subject to certain conditions, and is expected to occur on or about August 17, 2009.
It nice to know that money and credit can still be raised for companies that really need it and who knows... maybe one day soon, they'll be an IPO on the horizon. Remember IPO's?
RODM provides investment banking services focusing on life science sector, primarily biotechnology companies. RODM offers corporate finance services comprising private placements, private investment in public equity, registered direct offerings, and public offerings. RODM also performs M&A services and research and trading services to institutional investor clients.
At $2.20, RODM is below its 52-week high of $2.99 set on 08-13-08 and is far, far above its 52-week low of $0.14 set on 03-09-09. At $2.20, RODM is above both its 50-day and 200-day moving averages. RODM has trailing twelve month revenues of $43 million. RODM is nearly half-held by insiders, which isn't bad, but its shares out versus float ratio is a little lopsided. I would like to see more shares in the public float.