Tag - Axys

Today was a near flat day, with most indices eking out a close in the green a day after Citigroup (NYSE:C) reported that it is still operating at a profit. Some of today’s small-cap gainers were YRC Worldwide (Nasdaq:YRCW), Axsys Technologies (Nasdaq:AXYS) and Innodata Isogen (Nasdaq:INOD).

Other Market Watch highlights today included:

• Stocks navigated choppy trading Wednesday, with the Russell 2000 closing down 1.48, or 0.4%, to 366.27. The Dow closed up 0.05% to 6,929.76, and the S&P 500 closed up 0.24% to 721.35.
• For the year, the Russell is down 26.67%, the Dow is down 21.03% and the S&P 500 is down 20.14%.
• Analysts are warning that the rally seen Tuesday and part of today willl be short-lived due to deep problems etched within the banking industry.
• Oil prices fell more than 7% today as U.S. inventories swelled with surplus crude and traders started to doubt whether OPEC would cut production further.
• Lower tax revenue and massive government spending on the bank bailout pushed the federal deficit to $765 billion in the first five months of the budget year.

Small Cap Gainers:

• YRC Worldwide stock jumped 44.5% on expectations of an improved second quarter for the company. See (Nasdaq:YRCW).
• Axsys Technologies, a manufacturer of defense surveillance and imaging systems, closed up 32.48% after the small cap put itself up for sale in an auction that drew a first round of bids earlier this week. See (Nasdaq:AXYS).
• Innodata Isogen reported a second straight year of record revenue; shares rose 21%. See (Nasdaq:INOD). 

Small Cap Losers:

• NCI Building closed down 38% after posting a Q1 net loss on Tuesday. See (NYSE:NCS).
• WSP Holdings issued FY 2009 guidance below analysts' estimates, sending shares 35% lower. See (NYSE:WH). 
• Online travel website Orbitz tumbled 26% as competitor Expedia waived flight booking fees. See (NYSE:OWW).

Stocks opened in the green and are continuing their positive trot through midday, buoyed by Tuesday’s news that beleaguered Citigroup (NYSE:C) is operating at a profit.

At 12:27 pm ET, the Russell 2000 (NYSE:IWM) was up 1.39, or 0.38%, at 369.14, while the Dow was up 0.02% at 6,927.77, and the S&P 500 was up 0.22% at 721.18.

Like Tuesday, financial stocks are leading the markets higher today on the Citigroup news, while tech stocks are also seeing a boost after large-cap benchmark Hewlett-Packard’s rating was upgraded.

While the market seems to be in recovery mode, don’t relax just yet. Analysts are warning that the rally will be short-lived and that there remain deep problems etched within the banking industry.

Small-cap stocks trending upward today include On Assignment, Inc. (Nasdaq:ASGN), 23% higher on lower-than-average volume, and YRC Worldwide Inc. (Nasdaq:YRCW), which is 11% higher despite making Moody’s “Bottom Rung List.” Axsys Technologies (Nasdaq:AXYS), a manufacturer of defense surveillance and imaging systems, is up 34% after the small cap put itself up for sale in an auction that drew a first round of bids earlier this week.

Global Markets Up …

Finally, early strength for stocks on Tuesday didn’t turn to weakness. In fact, . . .

Also included among the results: Union Bankshares Inc. (Nasdaq:UNB), Alon USA Energy Inc. (Nasdaq:ALJ), DXP Enterprises Inc. (Nasdaq:DXPE), DrdGold ADR (Nasdaq:DROOY), Ameris Bancorp (Nasdaq:ABCB) and SVB Financial Group (Nasdaq:SIVB).

Comtech Telecommunications Corp. (Nasdaq:CMTL), Axsys Technologies Inc. (Nasdaq:AXYS) and D&E Communications Inc. (Nasdaq:DECC) are among the new 52-week lows in Tuesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Stepan Company (Nasdaq:SCL), Spartan Stores Inc. (Nasdaq:SPTN), Center Bancorp Inc. (Nasdaq:CNBC), Value Line Inc. (Nasdaq:VALU), Old Point Financial Corp. (Nasdaq:OPOF) and Adams Resources & Energy Inc. (Nasdaq:AE).

Comtech Telecommunications Corp. (Nasdaq:CMTL), AeroVironment Inc. (Nasdaq:AVAV) and United States Lime & Minerals Inc. (Nasdaq:USLM) are among the biggest percentage losers in Tuesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Silver Standard Resources Inc. (Nasdaq:SSRI), Minefinders Corp Ltd. (Nasdaq:MFN), Michael Baker Corp. (Nasdaq:BKR), Isramco Inc. (Nasdaq:ISRL), DrdGold ADR (Nasdaq:DROOY) and Axsys Technologies Inc. (Nasdaq:AXYS).

Liberty Global Inc. (Nasdaq:LBTYA), Riverbed Technology Inc. (Nasdaq:RVBD) and Ciena Corp. (Nasdaq:CIEN) are among the most actively traded companies in Thursday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Forward Air Corp. (Nasdaq:FWRD), Medicines Co. (Nasdaq:MDCO), Omniture Inc. (Nasdaq:OMTR), Old Dominion Freight Line Inc. (Nasdaq:ODFL),BLDRS Emerging Markets (Nasdaq:ADRE) and Axsys Technologies Inc. (Nasdaq:AXYS).

Center Bancorp Inc. (Nasdaq:CNBC), Retalix Ltd. (Nasdaq:RTLX) and DryShips Inc. (Nasdaq:DRYS) are among the most actively traded companies in Tuesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Ceradyne Inc. (Nasdaq:CRDN), TeleCommunication Systems Inc. (Nasdaq:TSYS), Eagle Bulk Shipping Inc. (Nasdaq:EGLE), Ariba Inc. (Nasdaq:ARBA), Axsys Technologies Inc. (Nasdaq:AXYS) and ev3 Inc. (Nasdaq:EVVV).

Scopus Video Networks Ltd. (Nasdaq:SCOP), Lacrosse Footwear Inc. (Nasdaq:BOOT) and iPCS Inc. (Nasdaq:IPCS) are among the biggest percentage gainers in Tuesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Cogent Communications Group Inc. (Nasdaq:CCOI), Ocean Shore Holding Co. (Nasdaq:OSHC), Axsys Technologies Inc. (Nasdaq:AXYS), Williams Controls Inc. (Nasdaq:WMCO), FiberNet Telecom Group Inc. (Nasdaq:FTGX) and Oneida Financial Corp. (Nasdaq:ONFC).

AMAG Pharmaceuticals Inc. (Nasdaq:AMAG), DryShips Inc. (Nasdaq:DRYS) and Acergy ADR (Nasdaq:ACGY) are among the most actively traded companies in Tuesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Ciena Corp. (Nasdaq:CIEN), Zoran Corp. (Nasdaq:ZRAN), Ituran Location and Control Ltd. (Nasdaq:ITRN), inVentiv Health Inc. (Nasdaq:VTIV), Axsys Technologies Inc. (Nasdaq:AXYS) and Hiveld Steel Depository Receipt (Nasdaq:HSVLY).

TeleTech Holdings Inc. (Nasdaq:TTEC), Axsys Technologies Inc. (Nasdaq:AXYS) and One Liberty Properties Inc. (Nasdaq:OLP) are among the biggest percentage losers in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Molina Healthcare Inc. (Nasdaq:MOH), Williams Controls Inc. (Nasdaq:WMCO), American River Bankshares (Nasdaq:AMRB), A.O. Smith Corp. (Nasdaq:AOS), Doral Financial Corp (Nasdaq:DRL) and Movado Group Inc. (Nasdaq:MOV).

Century Aluminum Co. (Nasdaq:CENX), Pan American Silver Corp. (Nasdaq:PAAS) and James River Coal Co. (Nasdaq:JRCC) are among the most actively traded companies in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: A. Schulman Inc. (Nasdaq:SHLM), Ezcorp Inc. (Nasdaq:EZPW), Axsys Technologies Inc. (Nasdaq:AXYS), VistaPrint Ltd. (Nasdaq:VPRT), GenTek Inc. (Nasdaq:GETI) and Gymboree Corp. (Nasdaq:GYMB).

Surveillance and targeting is one of the fastest-growing sectors in the DoD budget. The U.S. military is increasingly deploying unmanned vehicles and remote weapons stations to fight the "war on terror," and Axsys Technologies (Nasdaq:AXYS) and Argon ST (Nasdaq:STST) are on the front lines, providing the advanced optics and control systems vital to this transformation.

Axsys Technologies designs and manufactures precision optical systems for defense, aerospace, homeland security and commercial applications. Its technologies are deployed in weapons systems, long-range surveillance cameras and high-precision telescopes. Axsys’ principal customers are the U.S. military, the U.S. Border Patrol and large defense contractors who integrate its tools into larger platforms. The company’s Surveillance Systems Group produces high precision camera systems used in ground, marine and aerial vehicles. Its Imaging Systems Group builds optical and control subsystems deployed in larger systems such as visible and infrared lenses, scanning systems, laser-positioning devices, motion control components and imaging optics. Axsyx participates in large-scale U.S. defense department programs such as the MRAP vehicle, Apache helicopter, Stryker vehicle, M1A2 Abrams tank and thermal weapons.

Axsys ended 2007 with record contract backlog of $140.2 million. During the first six months of 2008, the company’s sales rose 49% year over year to $116.7 million from $78.5 million, and earnings improved 64% year over year to $11.2 million, or $1.02 per share, from $6.8 million, or $0.64 per share. Margins improved because of faster growth in the higher-margin surveillance systems segment. Axsys contract backlog increased to a record $174.1 million at the end of the June quarter as a result of new lens orders from DoD remotely operated weapons and thermal weapons programs. The company recently increased its full-year 2008 guidance and is targeting sales in a $237 million to $241 million range and per-share earnings in a $2.09 to $215 range. This compares with 2007 sales and per-share earnings of $171.6 million . . .

Vital Signs Inc (Nasdaq:VITL), Almost Family Inc (Nasdaq:AFAM) and HireRight Inc (Nasdaq:HIRE) are among the new 52-week highs in Thursday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Citizens & Northern Corp (Nasdaq:CZNC), Axsys Technologies Inc (Nasdaq:AXYS), International Assets Holding Corp (Nasdaq:IAAC), Omega Protein Corp (Nasdaq:OME), Emergent BioSolutions Inc (Nasdaq:EBS) and NATUS MEDICAL INC. (CA) (USA) (Nasdaq:BABY).

Here are the new 52-week highs among small caps:

Axsys Technologies Inc (Nasdaq:AXYS), Citizens & Northern Corp (Nasdaq:CZNC) and Marten Transport Ltd (Nasdaq:MRTN) are among the new 52-week highs in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Ezcorp Inc (Nasdaq:EZPW), OceanFirst Financial Corp (Nasdaq:OCFC), First Bancorp Inc (ME) (Nasdaq:FNLC), CryoLife Inc (Nasdaq:CRY), American CareSource Holdings Inc (Nasdaq:XSI) and Hawaiian Holdings Inc (Nasdaq:HA).

Here are the new 52-week highs among small caps:

Axsys Technologies Inc. (Nasdaq:AXYS) is up 10% to 52-week high today after reporting after Tuesday’s close second-quarter earnings that exceeded Wall Street Expectations. For the quarter ended June 28, net income was $6.1 million, or $0.53 per share, compared with $3.8 million, or $0.35 per share, for the same quarter a year ago. Net sales were $60.3 million versus $43 million for the period a year earlier. Analysts had been expecting earnings per share of $0.48 per share with revenues of $56 million.

In today’s trading, shares of the Rocky Hill, Conn.-based company are up $6.61 at $69.93 at 12:46 p.m. ET. Trading volume is at nearly 400,000 shares, well above the average of 180,000 shares.

Rex Energy Corp. (Nasdaq:REXX), City Holding Company (Nasdaq:CHCO) and Axsys Technologies, Inc. (Nasdaq:AXYS) were among the new 52-week highs established during Friday's trading among companies with market capitalizations or values under $750 million.

Natus Medical, Inc. (Nasdaq:BABY), Approach Resources Inc. (Nasdaq:AREX) and K-Tron International, Inc. (Nasdaq:KTII) were also among the 52-week small-cap highs.

Here are Friday's 52-week small-cap highs:

Quanex Corp. (NYSE:NX), Danvers Bancorp, Inc. (Nasdaq:DNBK) and IPC The Hospitalist Company, Inc. (Nasdaq:IPCM) were among the new 52-week highs established during Friday's trading among companies with market capitalizations or values under $750 million.

Axsys Technologies, Inc. (Nasdaq:AXYS), National Research Corp. (Nasdaq:NRCI) and Republic Bancorp, Inc. (Nasdaq:RBCAA) were also among the 52-week small-cap highs.

Here are Friday's 52-week small-cap highs:

A year ago, Axsys Technologies Inc. (Nasdaq:AXYS), a specialty supplier of precision optics for military surveillance gear, took off like a surveillance helicopter headed for Iraqi air space. The question now is whether this pricey stock will once again beat Street estimates and continue its climb, or miss expectations and see a serious correction.

Axsys had been trading between about $20 and $25 for several years, then the stock soared 178% to close at about $50 on April 18, from a closing price of $18.38 a year earlier, resisting any threats of recession. The stock closed Friday at $50.15.

It has not yet failed to please. In an earnings preview report released April 17, analyst Stephen E. Levenson at Stifel Nicolaus wrote that he’s anticipating an announcement of increased demand for the company’s thermal optics devices, and reiterated his “buy” rating and target price of $54.

Elsewhere on the Street, analyst Michael Ciarmoli at Boenning & Scattergood, maintains his neutral “market perform” rating, keeping an eye out for any stumble in coming quarters. He said the stock’s multiple of price to operating earnings is already 50% higher than that of its aerospace and defense peers. Its nearest competitor, Flir Systems Inc. (Nasdaq:FLIR), is a much larger company ($4 billion market cap compared to $556 million for Axsys) with a broader product line, higher operating profit margins (about 50% compared to Axsys’ 30%), and the same growth rate, about 20% on the top line. Both stocks are trading at a P/E of 33. “I like everything about this company except the valuation,” Ciarmoli says. Most other analysts also have a “neutral” or “hold” rating.

Axsys makes infrared and optical lenses, motion control assemblies and optical scanning assemblies, which it sells to defense contractors who use them to create high-power surveillance systems for the military and law enforcement . . .

Axsys Technologies, Inc. (Nasdaq: AXYS)
Rocky Hill, Conn.
http://www.axsys.com
  
52-week low / high: $15.71 / $43.63
Shares Outstanding: 10.74 million
Market Capitalization: $407 million

In a time when America seems to be one big subprime mess, it’s a joy to talk about an American company that leads the world in the highest manufacturing technology imaginable. Enter Axsys Technologies, Inc. (Nasdaq: AXYS).

Axsys designs and manufactures highly accurate optical and motion control systems for the U.S. government and commercial markets which demand high performance optics. Axsys’ systems are used in such mission-critical environments as airborne thermal targeting, missile tracking, space-borne surveillance, nighttime surveillance, navigation, astronomical research, and medical imaging and highly precise medical imaging and semiconductor micro-inspection.

All of Axsys’ many offerings in precision optics and motion control applications are based on their state-of-the-art manufacturing. Axsys is as a leader in the precision machining (to within 10 millionths of an inch tolerance) of both exotic and conventional materials, including beryllium alloys, titanium, aluminum, quartz and glass. In addition to its slew of proprietary products, the company is a subcontractor to many precision manufacturers and sells its surplus capacity in lapping, ion milling, plasma coating, plating, etching, anodizing and quality measurement.

Considering currently global realities — porous borders and terrorists, to name a few — the smallest groups can represent a massive threat. National defense becomes a matter of relentless vigilance against the most minute threat profile, the human body. What’s more, extreme computational capacity in medical and astronomical research requires optics well beyond the perceptive capacity of the human eye.

These demand trends in surveillance, space and military applications is enabling Axsys to post very impressive results.

Revenues for the third quarter (ended Sept. 29, 2007) were $45.2 million, up 34% from $33.6 million in the third quarter of 2006. Net income was also up, but by a more robust 52% to $4.1 million from $2.7 million, quarter over quarter. Per diluted share, net income was up similarly to $0.37 from $0.25 in the year ago period. 

In the third quarter, Axsys’ backlog also increased to a record $138 million, up 38% from its backlog at the end of the third quarter 2006 and up 9% sequentially. The quarters’ backlog included $57 million in new bookings in the quarter alone. Clearly Axsys will have to turn up the heat to meet demand.

Chairman and CEO, Stephen W. Bershad acknowledged the company’s excellent market position. He also noted that “sales from our newly acquired stabilized camera systems business exceeded expectations and the rest of our Optical Systems Group achieved 15% revenue growth during the quarter.”

The company increased its full-year 2007 market guidance, anticipating revenues of between $168 million to $171 million ($159 million to $163 million, previously) and income between $13.7 million to $13.9 million ($12.5 million to $12.8 million, previously). Diluted EPS are expected between $1.24 and $1.26, up from the previous guidance of $1.13 to $1.16.

For 2008, the company is estimating sales of between $193 million to $197 million and diluted earnings per share of between $1.57 and $1.60.

Note: Axsys Technologies, Inc. (Nasdaq: AXYS) is on the “Watch List” of Growth Report, a subscription investment newsletter from Business Financial Publishing, which also publishes SmallCapInvestor.com. As a Watch List company, Axys displays many characteristics found in successful stock winners, and is being closely monitored for possible inclusion in the Growth Report portfolio at a later date.

Data I/O Corp. (Nasdaq: DAIO), Transcend Services, Inc. (Nasdaq: TRCR) and Mercury Computer Systems Inc. (Nasdaq: MRCY) are among the biggest percentage gainers in Thursday's trading among companies with market capitalizations under $750 million.

Here are today's biggest percentage gainers:

Oculus Innovative Sciences, Inc. (Nasdaq: OCLS), Liberty Bell Bank (Nasdaq: LBBB) and Axsys Technologies, Inc. (Nasdaq: AXYS) are among the biggest percentage gainers in Monday's trading among companies with market capitalizations under $500 million.

Here are today's biggest percentage gainers:

Wavecom S.A. (Nasdaq: WVCM), Flow International Corp. (Nasdaq: FLOW) and Fuwei Films Co., Ltd (Nasdaq: FFHL) are among the most actively traded companies in Thursday pre-market trading among those with market capitalizations under $500 million: