Tag - VSCI

Here are the biggest percentage gainers and losers in pre-market trading among companies with a market cap between $50 million and $750 million:

Biggest percentage gainers:

• Aceto Corp. (Nasdaq:ACET), up 13% after the distributor of chemically derived pharmaceuticals, biopharmaceuticals, specialty chemicals and crop protection products posted fiscal third-quarter earnings Friday morning that trumped the consensus on Wall Street and posted sales that increased 29.5% from the year-ago quarter.
• Obagi Medical Products, Inc. (Nasdaq:OMPI), up 9%.
• True Religion Apparel, Inc. (Nasdaq:TRLG), up 8%, after first-quarter results trumped the consensus on Wall Street and the designer jean manufacturer raised its 2008 guidance.

Biggest percentage losers:

• NGAS Resources, Inc. (Nasdaq:NGAS), down 8% after the natural gas exploration and production company reported first-quarter revenues after Thursday’s close that fell below the Street’s view.
• Vision-Sciences Inc. (Nasdaq:VSCI), down 6%.
• Exactech Inc. (Nasdaq:EXAC), down 5% after the producer of bone and joint restoration products said this morning that it has gone back to the equity markets and sold 877,391 shares of its stock at $23.00 per share for gross proceeds of approximately $20.2 million.

Manufacturer and marketer of products for endoscopy Vision-Sciences, Inc. (Nasdaq: VSCI) this morning announced it swung to a profit in its fiscal fourth quarter.

For the three months ended March 31, 2007, the Orangeburg N.Y.-based company reported net income of $24 million, or $0.67 per diluted share, compared with a net loss of $1.1 million, or $0.03 per share, in the fourth quarter of 2006. The increase in earnings is attributed to a gain of $26.1 million on the sale of Vision-Sciences’ Ear-Nose-Throat EndoSheath product line to Medtronic Xomed, Inc. (NYSE: MDT), which closed in March 2007.

Vision-Sciences’ loss from operations widened to $1.6 million for the fourth quarter of 2007 from $1.2 million for the fourth quarter of 2006.

“We are pleased that we were able to complete the sale of our ENT EndoSheath product line to Medtronic,” said Vision-Sciences CEO Ron Hadani. “We anticipate that this transaction will enable us to focus on accelerating the development of new products and technologies, identifying potential acquisitions of related technologies, and entering new markets we have identified.”

Sales in Vision-Sciences’ medical segment increased 4% to $2.3 million in the fourth quarter, compared with sales of $2.2 million in the fourth quarter of 2006. For the fourth quarter revenues remained flat at $2.9 million, compared with the same fiscal quarter last year.