Tag - Riv

Delta Apparel, Inc. (AMEX:DLA), FirstFed Financial Corp. (NYSE:FED) and Riviera Holdings Corp. (AMEX:RIV) were among the new 52-week lows established during Friday's trading among companies with market capitalizations or values under $750 million.

PFF Bancorp, Inc. (NYSE:PFB), TierOne Corp. (Nasdaq:TONE) and PennantPark Investment Corp. (Nasdaq:PNNT) were also among the 52-week small-cap lows.

Here are today's 52-week small-cap lows:

Delta Apparel, Inc. (AMEX:DLA), Broadway Financial Corp. (Nasdaq:BYFC) and Power Medical Interventions, Inc. (Nasdaq:PMII) are among the biggest percentage losers in Friday's trading among companies with market capitalizations under $750 million.

Intervoice, Inc. (Nasdaq:INTV), Ixia (Nasdaq:XXIA) and Riviera Holdings Corp. (AMEX:RIV) are also among the top small-cap percentage losers.

Here are Friday's biggest percentage losers among small caps:

Riviera Holdings Corporation (Amex: RIV) executives warned investors during an afternoon conference call that the company’s upcoming results will be negatively impacted by state smoking bans, one-time charges and legal fees.

The company’s net income in third-quarter ending June 30 will be adversely affected by a one-time charge of about $12.9 million to record the call premium on the 11% notes that were redeemed in July and the write-off of the remaining deferred financing costs, CEO William Westerman said during the call. He also said $1.5 million in charges related to merger and acquisition efforts have hindered results for the last year and a half.

Riviera owns and operates the Riviera Hotel and Casino in Las Vegas and the Black Hawk Casino in Black Hawk, Colorado.

"We are continuing to work with our financial advisor, Jefferies and Company, Inc. on our strategic process to maximize shareholder value,” Westerman said.

Riviera has also begun to plan for the Colorado smoking ban, which becomes effective on New Year’s Day, 2008.

“We believe the impact of this decision – although not yet quantifiable - will be adverse to our 2008 results, and we are in the process of planning some infrastructure changes which we hope will lessen that impact,” Mark Lefever, president of Riviera, said.

The company plans to refurbish all rooms in its Las Vegas hotel and remodel the casino floor. In Colorado, the company is renovating its facility in order to meet the requirements of the smoking ban. The projects will cost the company $25 million over the next 30 months.

Before the opening bell, Riviera reported second-quarter net income of $3.6 million, or $0.28 per share, above Wall Street’s estimate of $0.15. During the same period of 2006, the company’s net income was $3.2 million, or $0.03 per share. Riviera recorded quarterly revenue of $53.7 million, on par with analyst expectations of $54 million and up from $52.5 million a year earlier.

Riviera said in a press release that net income included the effects of the increase in interest expense, offset by the favorable effect of $827,000 recorded as a gain on the derivative resulting from the interest rate swap on its new term loan.