Tag - Ae

Shares of Solarfun Power Holdings Co., Ltd. (Nasdaq: SOLF), a Chinese solar cell manufacturer, are down over 17% after the company before the start of trading today announced a plunge in quarterly revenue. The Shanghai-based company swung to a loss for the first quarter ended March 31 of $0.3 million, down from a $4.3 million profit in the same period of 2006. The company’s revenue nearly doubled to $24 million from $13.3 million a year earlier, but operating expenses soared to $3.7 million, up from $0.4 million in the 2006 period. Solarfun also announced it is lowering its 2007 revenue prediction to between $250 million and $279 million, down from its earlier forecast of $265 million to $285 million.

In midday trading, Powell Industries, Inc. (Nasdaq: POWL) shares are trading lower on the announcement before Wednesday’s opening that the electricity equipment company’s second-quarter revenue was $1.5 million lower than a year earlier. The Houston-based company announced a profit of $2.3 million, or $0.20 a share, for the second quarter ended April 30, down from $3.8 million, or $0.34 a share, in the year-ago period. The company also announced it is lowering its fiscal year earnings outlook to between $0.75 and $0.85 a share, down from earlier guidance of between $1.20 and $1.45 a share. CEO Thomas Powell attributed the lowered guidance to acquisition costs and the lowered earnings.

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

Shares of T.A.T. Technologies Ltd. (Nasdaq: TATTF), the Gedera, Israel-based manufacturer of heat transfer and accessory equipment for airplanes, shot up nearly 17% following the announcement at the start of Tuesday trading of a 53% increase in revenue from a year earlier for the first quarter ended Mach 31. The company, incorporated in 1985, reported a 106% first quarter profit increase to $2.6 million.

Shares of Nashua Corp. (Nasdaq: NSHA), the Nashua, N.H.-based paper manufacturer, are up over 10% following announcement at the start of Tuesday trading the company plans to buy back 1.9 million shares at $10.50 a share. If the company goes through with its intentions, it will repurchase about 30% of its outstanding shares. Bank of America (NYSE: BAC) and LaSalle Bank Corp. are financing the buyback, according to the press release. Nashua shares are trading near the 52-week high of $10.

Shares of Shamir Optical Industry, Ltd. (Nasdaq: SHMR), the Upper Galilee, Israel-based optical lens manufacturer, are up over 12% following announcement that the company’s first quarter revenues ended March 31 were well above analysts’ expectations. The company reported strong revenue growth in the United States and reaffirmed its 2007 revenue guidance, according to a press release.