Archive for the ‘Materials Stocks’ Category

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Penny Buzz Stocks to Watch – ENMD, IMUC, OOAG

Wednesday, June 2nd, 2010

Here are a few penny stocks on our radar today and why:

Entremed, Inc. (Nasdaq: ENMD): announced the publication of preclinical results for its clinical-stage Aurora A/angiogenic kinase inhibitor, ENMD-2076, in human colorectal cancer xenograft models. ENMD-2076 demonstrated robust antitumor activity against murine xenograft models of human colorectal cancer (CRC) established from both cell lines and primary human samples.

ImmunoCellular Therapeutics, Ltd. (OTCBB: IMUC): Announced positive results from a Phase I study of the company’s immune-based cancer therapy, ICT-107.

OMDA Oil and Gas, Inc. (Pink Sheets: OOAG): Announced a reduction of 12,000,000 common shares which is 5 percent of the total outstanding share count. Upon the completion of all of the announced share retirements the new outstanding share count will stand at 172,610,100. In total OMDA Oil and Gas, Inc. will have reduced its outstanding share total nearly 30% from the original 242,610,100. Upon completion of all pending share cancellations OMDA’s insiders will collectively hold less than 10% of the common vote.

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Layne Christensen Co. (LAYN) – Buzz Stock of the Day

Wednesday, June 2nd, 2010

Shares of construction services provider, Layne Christensen Co. (Nasdaq: LAYN) were sharply higher in morning trading on Wednesday, after the company released first quarter results that shattered analysts’ expectations thanks in large part to an 85 percent increase in revenue from the company’s mineral exploration division.

Net income for the first quarter ended April 30 rose to $6.6 million, or 34 cents a share, from $1.0 million, or 5 cents a share, last year. Revenue for the quarter rose 13 percent to $230.7 million.

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Analysts on average expected the company to earn 22 cents, on revenue of $216.9 million, according to Thomson Reuters I/B/E/S.

Earnings before income taxes for Layne Christensen’s mineral exploration division increased 386.0 percent to $8,587,000 for the three months ended April 30, 2010, compared to $1,767,000 for the same period last year. Mineral exploration revenues increased a staggering 85.0 percent to $45,878,000 for the three months ended April 30, 2010, from $24,794,000 for the same period last year.

“The extremely sharp turnaround in our mineral exploration business in North America and Africa produced a strong quarter considering where we were a year ago,” said the company’s president and CEO, Andrew B. Schmitt. “Our water supply project in Afghanistan also was an important contributor to earnings and the rest of the water infrastructure side of our business improved as well. Going forward, the question will be whether a stronger mineral exploration market and, hopefully, some turnaround in the housing and municipal infrastructure markets, can compensate for the reduced earnings as a result of lower current natural gas prices and the New Orleans project that was completed during this quarter.”

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CTI Industries Corp. (CTIB) – Buzz Stock of the Day

Friday, April 30th, 2010


Shares of CTI Industries Corp. (Nasdaq: CTIB) were up as much as 79 percent from yesterday’s close in morning trading after the company announced first quarter earnings of $599,000 or 22 cents per share, up 544 percent from the same period a year ago, driven by higher sales of its pouch and novelty products, and a 3 percent increase in gross margin.


Revenue for the quarter was up 29 percent to $12.4 million, from $9.6 million in the same quarter a year ago.


Sales of pouch products were up 208 percent from $986,000 in the first quarter 2009 to $3,041,000 in the first quarter of 2010. Most of this increase was a reflection of strong continuing sales of zippered vacuumable pouches to a principal customer. Sales of CTI’s proprietary ZipVac™ line of vacuumable pouches also increased.

Novelty product revenues were up 18.6 percent, from $6,580,000 in the first quarter of 2009 to $7,804,000 in the first quarter of 2010. Sales of laminated films showed a modest decline from $1,876,000 in the first quarter of 2009 to $1,367,000 in the first quarter of 2010.

Gross margins increased to 24.5 percent in the first quarter of 2010 compared to 21.5 percent for the first quarter of 2009. This increase is the result of increased production and sales volume during the first quarter of 2010 resulting in lower unit cost than in the same period of 2009 and a change in the mix of products sold to certain novelty and pouch products having a higher margin.

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MOD-PAC Corp. (Nasdaq: MPAC) Buzz Stock of the Day

Wednesday, November 4th, 2009

Paper products maker, MOD-PAC Corp. (Nasdaq: MPAC) reported a sharp increase in third quarter profit driven by cost restructuring initiatives to improve operating leverage, and increases in the company’s folding carton sales and custom folding carton sales, offset by lower stock packaging and print service sales.

For the quarter ended October 3, MOD-PAC reported profit of $1.01 million, or 29 cents per share, compared with profit of $14,000 and flat EPS in the same quarter a year ago. Revenue for the quarter decreased to $12.59 million, from $12.64 million a year ago.

“Our custom folding carton sales have grown exceptionally well,” said MOD-PAC’s president and chief executive officer, Daniel Keane in a statement. “Many of our customers produce private label products for the consumer staples market. Consumers in this economic environment are highly cost conscious and tend to buy more store brands which drives sales for our customers. Importantly, as our customers are realizing stronger sales, we are also capturing a greater percentage of their business and adding new accounts.”

Sales of folding cartons, which include custom folding cartons and stock packaging, were up 11.2 percent, or $1.18 million, to $11.65 million in the 2009 third quarter from $10.47 million in the prior year third quarter. Custom folding carton sales drove the product line increase. Custom folding carton sales for the third quarter of 2009 were $9.41 million, up $1.21 million, or 14.8 percent, from 2008 third quarter sales of $8.19 million. Greater sales from two large existing customers and the addition of one new customer, more than offset reduced sales from customers impacted by the economy and decreased waste sales due to a drop in the recycled paperboard market.

Gross profit for the 2009 third quarter was $2.52 million, or 20 percent of total revenue, compared with gross profit of $1.98 million, or 15.6 percent of total revenue, in the same period a year earlier.

Shares of MOD-PAC surged 73 percent touching on a high of $4.25 after the Company announced third-quarter earnings of 29 cents a share on revenue of $12.6 million.

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Buzz Stock of the Day – Patrick Industries (PATK)

Monday, July 6th, 2009

Shares of Patrick Industries, Inc. (Nasdaq: PATK) were up more than 40 percent today. The company manufactures building products and materials to manufactured housing and recreational vehicle market in the United States and Canada.

Last week, the Institute for Supply Management said its index of manufacturing activity moved to 44.8 in June from 42.8 in May. That reading was in line with the 45 reading expected by economists and signals a slowing rate of contraction. And a gauge of future U.S. housing-market activity rose for the fourth consecutive month in May, marking its longest stretch of growth since October 2004. The National Association of Realtors said its index of pending sales increased 0.1% in May to 90.7.

The Elkhart, Ind.-based Patrick Industries has been trading higher since July 1st, when the data was published.

A turnaround in the housing market is exactly what Patrick Industries needs. The company’s first quarter net sales was a mere $44.9 million compared to $97.0 million in 2008. “Our operating plans reflect the impact of lower sales volumes stemming from the recession and low consumer confidence that we believe will continue for at least the next nine to twelve months,”said Patrick Industries’ president and CEO, Todd Cleveland in a statement.

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