S&P SmallCap 600 companies Abaxis (ABAX), Gentiva Health (GTIV) and Radiant Systems (RADS) gained today on yesterday's earnings reports and Isilon Systems (ISLN) posted earnings yesterday; then received two upgrades today.
The first of the S&P SmallCap 600 companies to look at is Abaxis Inc., (ABAX) http://www.abaxis.com/ gaining 16.44% ($3.59) early in today's session to create a new market cap of $558 million. ABAX is now trading on the Nasdaq in the $25.43 range. ABAX has a 3-Month average daily trading volume of 238,461 shares and nearly tripled that by 11 a.m. EST trading 797,091 shares.
ABAX reported its Q2 profit jumped 35% on higher sales of its blood analysis equipment. ABAX reported it earned $3.8 million or 17 cents per share for the quarter, compared with $2.8 million, or 12 cents per share for the prior year. A very nice gain through the recession. ABAX revenues grew 21% to $29.6 million. Analysts were looking for 13 cents a share.
ABAX develops, manufactures, markets, and sells portable blood analysis systems for use in the human or veterinary patient-care setting to provide clinicians with rapid blood constituent measurements.
At $25.43, ABAX will set a new 52-week high today. The 52-week low for ABAX is $10.17 set on 10-27-08. At $25.43, ABAX is ahead of both its 50-day and 200-day moving averages. ABAX has trailing twelve month revenues of $105 million and a trailing twelve month diluted EPS of $0.54. Its shares out versus float ratio is at parity.
Another S&P SmallCap 600 company to post significant gains this morning on yesterday's earnings report is Gentiva Health Services Inc., (GTIV) http://www.gentiva.com/ that picked up $2.15 or 11.51% in early trading. GTIV is currently trading on the Nasdaq in the $20.85 range with a new market cap of 602 million. GTIV has a 3-Month average daily trading volume of 351,727 shares and had nearly doubled that early in today's session topping 663,886 shares traded.
Home healthcare provider GTIV reported a 42% gain in quarterly profit today. GTIV management subsequently raised its 2009 earnings guidance. GTIV management adjusted its 2009 earnings guidance to $2.04 and $2.10 a share, on sales of $1.19 billion to $1.21 billion. GTIV had earlier forecast earnings of $1.72 to $1.80 a share, on revenue of $1.14 billion to $1.18 billion. That brought the buyers in today. GTIV had $0.58 Q2 EPS versus $0.41 a year ago. Revenues fell 13% to $281 million, but management again revised its guidance; saying 2009 revenues would come in between $1.19 and $1.21 billion.
GTIV's Home Health segment offers skilled nursing and therapy services, nursing services, and homemaker services primarily to adult and elderly patients through licensed and Medicare-certified agencies.
At $20.85, GTIV is below its 52-week high of $29.99 set on 01-02-09 and far above its 52-week low of $12.94 set on 03-09-09 (a good buy signal). At $20.85, GTIV is ahead of both its 50-day and 200-day moving averages. GTIV has trailing twelve month revenues of $1.27 billion and a trailing twelve month diluted EPS of $5.53. Its shares out versus float ratio is near-parity.
Radiant Systems Inc., (RADS) http://www.radiantsystems.com/ (another S&P SmallCap 600 company) posted a 13.98% gain ($1.26) today on news of its Q2 earnings announced late yesterday. RADS is currently trading in the $10.30 range on the Nasdaq with a new market cap of $337 million. RADS has a 3-Month average daily trading volume of 187,128 shares and it hit 186,269 shares traded by 11 a.m. EST today.
RADS reported Q2 total revenues of $71.1 million for the period and that exceeded guidance. RADS adjusted net income for Q2 was $6.2 million, or $0.18 per diluted share, and that also exceeded guidance by $0.02 per diluted share. RADS net income for the Q2 period was $3.2 million, or $0.09 per diluted share, a decrease of $0.9 million, or $0.03 per diluted share, compared to the same period in 2008.
RADS develops and installs delivery of solutions for managing site operations in the hospitality and retail industries in Europe, Asia, and Australia.
At $10.30, RADS is below its 52-week high of $11.70 set on 07-31-08 and far, far above its 52-week low of $2.19 set on 02-24-09 (another good buy signal). At $10.30, RADS is above both its 50-day and 200-day moving averages. RADS has trailing twelve month revenues of $300 million ad a trailing twelve month diluted EPS of $0.26. Its shares out versus float ratio is near-parity.
Finally today, picking up a nice 7.80% ($0.35) gain is Isilon Systems Inc., (ISLN) http://www.isilon.com/ to set a new market cap of $309 million. ISLN is currently trading on the Nasdaq in the $4.90 range. ISLN has a 3-Month average daily trading volume of 125,075 shares and it topped 194,918 shares traded today by 11 a.m. EST.
ISLN reported Q2 numbers late yesterday. Revenue for the quarter was $29.0 million, up 8% with $26.9 million in the first quarter of 2009 and up 3% compared with $28.2 million in the second quarter of 2008. Good numbers during the recession.
ISLN net loss for Q2 was $3.7 million, or $0.06 per share, compared with a net loss of $10.4 million, or $0.16 per share in the first quarter of 2009. Net loss in the second quarter of 2008 was $5.8 million, or $0.09 per share. Smaller and smaller losses brought the buyers out today.
Also today, both Needham and ThinkEquity upgraded ISLN to 'Buy'.
ISLN develops, and markets network attached storage systems for storing and managing file-based data, including video, audio, digital images, computer models, PDF files, scanned images, reference information, test and simulation data.
At $4.90, ISLN is pennies below its 52-week high of $5.15 set on 08-18-08 and more than twice its 52-week low of $1.86 set on 03-09-09. At $4.90, ISLN is ahead of both its 50-day and 200-day moving averages. ISLN has trailing twelve month revenues of $117 million. I would like to see more shares if ISLN in the public float.