Tag - Angn

Levitt Corp. (NYSE: LEV) restated its first-quarter results due to an inter-company transaction accounting error. Levitt downwardly revised its earnings for the three months ended March 31 to $976,000, or $0.05 per share, from $1.3 million, or $0.06 per share. 

Cantor Fitzgerald maintained a “hold” rating on Euroseas Ltd. (Nasdaq: ESEA).

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

The following companies were making news in after-hours trading Tuesday:

Shares of Volterra Semiconductor Corporation (Nasdaq: VLTR) were lower in after-hours trading after the company lowered guidance for the second quarter ending June 30. The Fremont, Calif.-based provider of semiconductors said revenues in the second quarter now are estimated to fall between $18.5 million to $19.5 million. On a non-GAAP basis, the company forecast a loss per share of $0.04 to a loss of $0.07. Analysts had expected revenues at $20.47 million and they'd seen the company earning $0.11 in the second quarter. In after-hourse trading shares of Volterra were $0.54 higher at $14.61, after closing $1.33 lower in the regular trading session. Volterra said the updated guidance stemmed from a process defect with one of the company's vendors. The problem caused the company to recall $2.0 million to $3.0 million of product and will result in a charge to earnings of $3.0 million to $4.0 million in the second quarter. Volterra indicated it has identified the reason for the defect and has worked with its vendor to correct the process.

Angeion Corporation (Nasdaq: ANGN) said net income in the second quarter ended April 30 was $0.11 per diluted share, up from $0.05 in the prior year period. Revenues were $10.0 million, up strongly from $7.2 million in the second quarter of 2006. The St. Paul, Minn.-based company recorded double-digit year-over-year revenue growth for the twelfth consecutive quarter. There were no analyst estimates. Shares of Angeion were virtually unchanged in after-hours trading, compared with the close of $10.84. The health care company develops, manufactures and sells non-invasive cardiorespiratory diagnostic systems.

Navarre Corporation (Nasdaq: NAVR) said its fourth quarter ended March 31 saw revenues of $168.6 million, down from $171.9 million in the same period a year ago but above analysts' forecasts at $162.79 million. Net loss per diluted share for the quarter was $0.06, down from earnings of $0.03 per share in the prior year fourth quarter and below the average analyst estimate for earnings of $0.06. The Minneapolis, Minn.-based publisher of digital home entertainment and multimedia products also guided on fiscal 2008, saying it anticipates consolidated net sales between $670 million and $690 million, versus 2007's sales of about $648 million. Net income of $9.0 million to $10.0 million is expected. Shares of Navarre were unchanged in after-hours trading at $3.85.