Tag - Bwy

Calgon Carbon Corp. (Nasdaq:CCC), DXP Enterprises Inc. (Nasdaq:DXPE) and Herley Industries Inc. (Nasdaq:HRLY) are among the new 52-week highs in Friday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Chardan 2008 China Acquisition Units (Nasdaq:CACAU), BWAY Holding Co. (Nasdaq:BWY), First of Long Island Corp. (Nasdaq:FLIC), Navios Maritime Acquisition Corp. (Nasdaq:NNA), Global Brands Acquisition Corp. (Nasdaq:GQN) and New York & Company Inc. (Nasdaq:NWY).

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

Bway Holding Co. (NYSE: BWY) CEO Ken Roessler said the company is raising prices on its metal packaging products in order to battle the rising cost of metal. The chief executive made the comments during a morning conference call.

“We believe that the challenges currently faced by our metals packaging business are short-term,” Roessler said. “We have announced a sales price increase effective Jan. 1, 2008 and concurrently we are rebalancing our steel supply base.”

Before the opening, Bway reported fourth-quarter net sales of $252.8 million, up 2% from $249 million a year earlier. Analysts expected $248.3 million in net sales.

“We are very encouraged by the results of our plastic packaging business and the positive momentum we generated and we are pleased with the success of our recent Canadian acquisitions and by our free cash flow results,” Roessler said.

Roessler said the downturn in the housing market hurt the firm’s quarterly results.

“The housing market may be out of our control but the way we operate our manufacturing system is not and we are taking appropriate actions,” he said.

The company posted a quarterly loss of $1.4 million, or $0.06 per share, up 59% from a loss of $3.4 million, or $0.17 per share, during the period of 2006. Wall Street projected earnings of $0.13 per share.

For fiscal 2007 ended Sept. 30, Bway swung to a net loss of $3.1 million, or $0.15 per share, from a profit of $8.9 million, or $0.35 per share, during fiscal 2007. The 2007 results included a pre-tax charge of $29.7 million, or $0.83 per share, in public offering-related expenses.

Bway’s fiscal year net sales rose to $959 million, up 4% from $918.5 million during 2006.

The firm said it expects a loss in the range of $0.16 to $0.22 per share in the first quarter 2008, which ends Dec. 30. For fiscal 2008, Bway said it projects earnings in the range of $0.68 to $0.78 per share.

In midday trading, BWY shares are down 6.52%, or $0.64, at $9.17. Over the last 52 weeks, shares have ranged from $7.01 to $15.75.

BWAY Holding Co. (NYSE: BWY), a supplier of general line rigid containers, reported a net loss for the quarter related in part to IPO charges.

For the year ended Sept. 30, the Atlanta, Ga.-based firm reported a net loss of $3.1 million or $0.15 per share including $29.7 million (pre-tax), or $0.83 per diluted share of one-time initial public offering related expenses.

Full year fiscal 2007 adjusted net income (net income excluding IPO-related expenses) was $16.9 million, or $0.68 per fully diluted share, compared with $0.35 per fully diluted share for fiscal 2006.

Three analysts polled by Thomson Financial were on average projecting earnings per share of $ 0.74 for the year

Net sales were $959 million, compared with $918.5 million for fiscal 2006. The year’s sales clocked in slightly above the $954.45 million two analysts polled by Thomson Financial were on average forecasting.

The small cap attributed the increase in sales primarily to its July 2006 acquisition of ICL Industrial Containers, Ltd. and its January 2007 acquisition of Vulcan Containers.

For the first quarter of fiscal 2008, ending Dec. 30, the company is projecting a net loss of $0.22 to $0.16 per share.

For the fiscal 2008, ending Sept. 28, 2008, BWAY is projecting earnings of $0.68 to $0.78,

The company noted factors that affected its metal packaging segment during the second half of fiscal 2007 are expected to continue through the first quarter of fiscal 2008

Shares of BWAY Holding (BWY) were halted in pre-market trading.