Tag -  STRN 

Sutron Corp. (Nasdaq: STRN), which provides hydrological and meteorological monitoring products, systems and services, today reported robust third-quarter financial results.

For the three months ended Sept. 30, the Sterling, Va.-based firm recorded net income of $1.2 million, or $0.27 per share, compared with net income of $0.37 million, or $0.09 per share, for the third quarter of 2006. No analyst estimates were available.

The small cap booked revenues of $6.6 million, an increase of 38% over $4.78 earned for the same quarter last year.

Sutron said the quarter’s revenues were primarily driven by shipments on two large projects. The company shipped water level monitoring equipment to three customers in China that is being provided for the Three Gorges Dam Project. The shipments totaled approximately $956,000.

Additionally, the company said it shipped water level, snow, rainfall and water quality monitoring equipment to Washington International Group, which is being provided to the Iraq Ministry of Water Resources. This shipment totaled approximately $2.2 million.

Going forward, Sutron executives said they expect a strong fourth quarter, as the firm plans to make its first shipment to Afghanistan on its $6 million contract with the Ministry of Water Resources.

Shares of Sutron (STRN) climbed 13.06%, or $1.18, to $10.18 at 2 p.m. ET. Shares of Sutron have been trading in the range of $6.20 to $12.94 for the past 52 weeks.

Graham Corp. (AMEX: GHM) reported record earnings of $3.4 million, or $0.86 a share, for the fourth quarter ended March 31, up from $1 million, or $0.25 per share, in the year-ago period. The Batavia, N.Y.-based vacuum and heat transfer equipment maker reported fourth-quarter revenue of $20.8 million, up from $15.9 million a year earlier.

Sutron Corp. (Nasdaq: STRN) reported it received record bookings in May totaling $9.3 million. The Sterling, Va.-based hydrological, meteorological and oceanic data monitoring company announced a record $18.9 million in revenue for the first five months of 2007.

Senomyx Inc. (Nasdaq: SNMX) announced its first introduction of Nestle Co. food products containing senomyx flavor ingredients.

Rackable Systems, Inc. (Nasdaq: RACK) shares are trading up after online options tracking services reported increased call option activity that may be an indicator of an acquisition offer coming or of further shareholder-friendly developments. Rackable was also mentioned on CNBC Tuesday morning as a potential takeover candidate.

Diamond Foods, Inc. (Nasdaq: DMND) raised sales projections after Monday’s closing bell. The snack company announced Monday that revenue increased 43% to $97 million for the third quarter ended April 30, from $67.8 million a year earlier.

These are the biggest percentage gainers in Tuesday's trading among companies with market capitalizations under $500 million:

Stocks are in negative territory following news the U.S. Federal Reserve remains concerned about inflation and despite a report of strong growth in the services industry. At 11:42 a.m. ET the Russell 2000 was down 5.22 points, or 0.61%, to 849.87. The Dow Jones Industrial Average was down 67.46 points, or 0.49%, to 13,608.86.

Shares of North American Scientific, Inc. (Nasdaq: NASI) are depreciating on news the maker of products for radiation therapy treatment is still losing money.

These are the biggest percentage gainers among companies with market capitalizations under $500 million:

These are the biggest percentage losers among companies with market capitalizations under $500 million:

The Russell 2000 index is gaining ground along with the other major indices on news of a smaller-than-expected rise in U.S. inflation.  Among specific small cap companies, shares of Astea International Inc. (Nasdaq: ATEA) skyrocketed on news of a positive first quarter, while poor financial results hurt shares of Sutron Corp. (Nasdaq: STRN).

At 11:15 a.m. ET the Russell 2000 had gained 1.06 points, or 0.13%, to 829.39.  The Dow Jones Industrial Average was up 81.18 points, or 0.61%, to 13,427.96.