Nasdaq Chumps

Nasdaq Chumps

VA Software Corp. (LNUX)
Last Trade: 3.78
Change: Down 0.75 (16.56%)

VA Software Swings to 4Q Profit but Sales Fall Below Street's View; Shares Dip 5 Percent


VA Software Corp., a software maker and operator of the Slashdot.org Web site for techies, said Tuesday it swung to a profit in its fiscal fourth-quarter, as online media sales helped pace broad-based revenue gains.

Sales growth, however, fell below Wall Street's expectations, sending the company's shares lower in aftermarket trading.

Quarterly net income totaled $696,000, or a penny per share, compared with a loss of $1 million, or 2 cents per share, in the year-ago period. Overall net revenue grew to $10.5 million from $7.8 million.

Wall Street had been looking for a penny per share in profit on higher sales of $10.7 million, according to an analyst poll by Thomson Financial.

During the quarter, VA Software said software revenue grew 22 percent to $2.7 million, online media revenue surged 78 percent to $4 million and e-commerce revenue gained 15 percent to $3.9 million.

For the full fiscal year, VA Software reported a profit of $11 million, or 17 cents per share, compared with a loss of $4.7 million, or 8 cents per share. Net revenue rose to $43.6 million from $30.6 million.

VA Software shares fell 23 percent, or 5.1 percent, to $4.30 in afterhours trading on the INET electronic exchange. They had closed earlier down a penny at $4.53 on the Nasdaq, where shares have traded between $1.28 and $6 over the past 52 weeks.

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Orthologic Corp. (OLGC)
Last Trade: 1.37
Change: Down 0.26 (15.95%)

OrthoLogic Corp. on Tuesday said it terminated the study of its synthetic peptide Chrysalin after it failed to meet primary efficacy endpoint in clinical trials.

Shares of the company fell almost 24 percent to $1.24 in after hours trade on Inet electronic exchange after closing at $1.63 on the Nasdaq.

The biotechnology company said the Phase 2b dose-ranging clinical trial was to evaluate the safety and efficacy of the doses of Chrysalin on the rate of healing in adults with unstable and/or displaced wrist fractures.

Earlier, in mid March, a Phase 3 clinical trial involving treatment with 10ug of Chrysalin had failed to meet its primary goal of accelerating recovery.

The phase 2b trials included Chrysalin dosages of 1 ug, 3 ug, 10 ug, and 30 ug.

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Polydex Pharmaceuticals Ltd. (POLXF)
Last Trade 7.70
Change: Down 0.85 (9.94%)


Travelzoo Inc. (TZOO)
Last Trade: 31.23
Change: Down 4.10 (11.60%)

ADC Telecommunications Inc. (ADCT)
Last Trade: 13.68
Change: Down 1.07 (7.25%)