Monday's NASDAQ Top % Winners: GAI, ADEP, WOLF, CALL
Global-Tech Advanced Innovation (NASDAQ:GAI) skyrockets On Earnings
News about Global-Tech Advanced Innovation
New York, NY - April 10, 2012 - www.InvestorIdeas.com, a global investor research portal for independent investors, reports on top percentage gainers on the NASDAQ for Monday April 09th. The Nasdaq Composite fell 33.42 (-1.08%) to close at 3,047.08.
Global-Tech Advanced Innovations Inc. (NASDAQ:GAI) shares soared 67.95% and closed at $8.75 after the company announced its third quarter results. The company also made a new 52 week high at $9.94.
The company posted third quarter net income of $3.3 million or $1.09 per share, as compared to a net loss of $1.5 million or $0.48 per share for the year-ago quarter. Net sales for the third quarter jumped 81% to $44.2 million from $24.4 million in the same period last year.
Adept Technology, Inc. (NASDAQ:ADEP) shares climbed 19.76% to close at $6.00 after Philips turned to Adept Technology as their supplier of robotics and flexible feeding systems after Philips decided to build an assembly line capable of manufacturing their current line of high-tech shavers and support any future redesigns.
On April 5, 2012, the company said that it has also received an order worth $1 million from German Automotive Supplier.
Great Wolf Resorts, Inc. (NASDAQ:WOLF) shares soared 13.07% and closed at $7.44 after the company reported that it has received an unsolicited letter from KSL Capital Partners proposing to acquire Great Wolf for $7.00 per share in cash. The company's Board of Directors will consider and evaluate this new proposal from KSL Capital Partners, and will pursue the course of action that is in the best interest for the company and its stockholders.
magicJack VocalTec Ltd (NASDAQ:CALL) shares jumped 10.86% to $23.07 after the company announced that it expects to report strong first quarter earnings. The company also reported it hopes to reach the top end of its 2012 outlook.
The company expects first-quarter 2012 net earnings of $7.8 million or $0.37 per share, and adjusted earnings of $0.26 per share. Revenue is expected at $37.4 million for the period. The company's outlook may vary up or down by 10% and 3% for income and revenue respectively. The company has reported net earnings of $1.8 million or $0.08 per share, and revenue of $30.8 million in the same quarter last year.
Additionally, the company expects to repurchase the maximum amount available under its current share buyback program, and is planning to seek approval to raise the buyback by $20 million.
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