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Fonar Corp. (FONR) shares soar as Q1 net income increases 360 percent

Tuesday, November 15th, 2011

Shares of MRI company Fonar Corp. (Nasdaq: FONR) were up as much as 26 percent from Monday’s closing price in morning trading on Tuesday after the company reported a 360 percent increase in first quarter earnings driven by an increase in management and service revenue, and a decrease in costs and expenses, offset by a decrease in product sales.

Fonar’s net income for the first quarter of fiscal 2012 increased to $1.8 million, from $363,0000 a year earlier. Basic earnings per common share increased 257% to $0.25 per share during the first fiscal quarter of fiscal 2012 as compared to $0.07 per common share for the first fiscal 2011 quarter ended September 30, 2010. In addition, the diluted earnings per common share increased 243% to $0.24 per share during the first fiscal quarter of fiscal 2012 as compared to $0.07 per common share for the first fiscal 2011 quarter ended September 30, 2010.

Total revenues rose 11 percent to $9.6 million, compared to $8.7 million for the same period last year.  Total operating costs and expenses decreased 5 percent to $7.8 million, from $8.3 million a year ago. Fonar’s product sales in the quarter ended September 30, 2011 dropped to $1.8 million, from $2.7 million a year ago. Service and repair revenue increased to $2.9 million in the quarter, from $2.7 million a year ago, and revenues from management and other fees increased to $4.9 million, from $3.3 million a year ago.

“”Over the last six quarters we have a net profit of $4.9 million,” said Dr. Raymond Damadian, Fonar’s Chairman and CEO in a November 15 press release. “This is due to changes that we have had to make including a focus on the management of our ten UPRIGHT® MRI imaging centers and some difficult cost reductions. While sales are not as robust as in prior years, we believe sales of the UPRIGHT® Multi-Position™ MRI will increase as the U.S. economy continues its recovery. This is because the UPRIGHT® MRI has huge value in medicine when it comes to diagnosing the spine. As time goes on, more and more physicians and patients recognize this. The discovery that an interrupted CSF flow causes MS is a valuable discovery and one that will immensely help those poor souls afflicted with the symptoms of MS as well as FONAR tremendously.”

 

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Anadys Pharmaceuticals, Inc. (ANDS) soars on buyout news

Monday, October 17th, 2011

Shares of biopharmaceutical company, Anadys Pharmaceuticals, Inc. (Nasdaq: ANDS) surged more than 250 percent from Friday’s closing price in morning trading on Monday after the San Diego-based company announced a definitive merger agreement to be acquired by pharmaceutical giant Roche for $3.70 per share, or about $230 million.

“With Roche’s considerable capabilities and experience in HCV, we believe this acquisition provides the best chance of success for the new potential treatments to reach patients,” said Steve Worland, Ph.D., President and CEO of Anadys in an October 17 press release.

Anadys shares touched a high of $3.67, up from Friday’s closing price of $1.04.

Anadys currently has two hepatitis C drug candidates in clinical trials. Last week, the company announced that a mid-stage trial of its hepatitis C drug, setrobuvir, showed promise, Reuters reported. Setrobuvir, a direct-acting antiviral that works by interacting with and blocking a component of the virus, is in mid-stage trials.

“We are pleased with today’s data, which we believe demonstrate a compelling profile for setrobuvir in significantly more patients,” Worland said in an October 13 press release.

Anadys’ other hepatitis C drug, ANA773, is in early-stage development, and works by stimulating the patient’s own immune system to block cells infected with the virus, Reuters reported on Monday.

Roche’s acquisition of Anadys will help the company strengthen its hepatitis portfolio. “Our aim is to offer physicians and hepatitis patients a powerful combination of therapies that bring us closer to a cure, even without the use of interferon,” said Jean-Jacques Garaud, Global Head of Roche Pharma Research and Early Development in an October 17 press release. “Anadys’ compounds provide additional modes of action that could lead to interferon-free treatment regimens without viral resistance.”

 

 

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The lithium battery may be out of juice – LEXG, LTUM, AMLM nosedive after huge runs

Friday, April 29th, 2011

Who would think that an OTCBB-listed company could ever a bellwether for other companies in its industry?

That certainly appeared to be the case this week.

Lithium Exploration Group (OTCBB: LEXG) had everyone buzzing about lithium over the past week.

Shares of LEXG opened at $4.05 on Monday, and ran as high as $10.68 on Thursday, according to historical data on Yahoo Finance.  LEXG had a nearly 800 percent run in the past month — fueled by a huge advertising budget and herd mentality. Shares rocketed from $1.20 on March 29, 2011 to a 52-week high of $10.68 a share on Thursday.

Other OTC-listed lithium companies experienced a heavy tailwind, as well.  Lithium Corp. (OTCBB: LTUM), which opened at 19 cents on Wednesday, surged to a high of $1.35 on Thursday, and more than 3.7 million shares of  American Lithium Minerals (OTCBB: AMLM) traded on Thursday. Shares of AMLM were up 120 percent between April 27th and April 28th.

The run-ups came to an abrupt end on Friday.

LEXG plunged more than 50 percent at mid-day. LTUM and AMLM followed suit.

LTUM fell as much 54 percent at mid-day on Friday, and AMLM was down more than 20 percent, according to historical data from Yahoo Finance.

The biggest players in the space include: FMC Corporation (NYSE: FMC), and Rockwood Holdings (NYSE: ROC), neither of which have anywhere near the same volatility as the smaller companies.

On a more positive note, one of the companies featured in our mid-day update from Thursday, Orofino Gold Corp. (ORFG) saw gains of as much as 20 percent on Friday.

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Cyanotech Corp. (CYAN) – Buzz Stock of the Day

Wednesday, February 16th, 2011

Shares of microalgae nutrition products maker Cyanotech Corp. (Nasdaq: CYAN) rallied as much as 78 percent from Tuesday’s closing price in morning trading on Wednesday after it was announced that researchers at the University of California at Davis have determined that Cyanotech’s microalgae-based Hawaiian Spirulina Pacifica® may improve immune function and ameliorate anemia in persons over 50.

Shares touched a new 52-week high of $4.67 after the announcement, up from Tuesday’s closing price of $2.62 per share.

“The research found a steady increase in corpuscular hemoglobin in subjects of both sexes, and improved immune function in the majority of subjects,” said Dr. Gerald Cysewski, Cyanotech’s Chief Scientific Officer in a statement.

The Cyanotech Spirulina Pacifica study was conducted by the UC Davis Division of Rheumatology, Allergy and Clinical Immunology under the supervision of Dr. M. Eric Gershwin and scientists from UC Davis. The objective of the study was to determine if Spirulina Pacifica could be effective in countering anemia and declining immune function. Thirty participants over the age of 50 took Spirulina Pacifica supplements for 12 weeks. Key blood chemistry markers for immune function were tested at the outset of the study and again after six and 12 weeks. The subjects’ daily dietary regimens were monitored throughout the process.

Spirulina Pacifica® is a select strain of Spirulina platensis developed over many years of continuous cultivation in Hawaii. Cyanotech grows more than 350 metric tons of premium-quality Spirulina Pacifica per year at its 80-acre production facility in Hawaii.

Shares of Cyanotech Corp. are up about 35 percent over the past three months.

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Interphase Corp. (INPH) – Buzz Stock of the Day

Friday, February 11th, 2011

Shares of converged communications solutions provider Interphase Corp. (Nasdaq: INPH) soared as much as 98 percent from Thursday’s closing price in morning trading on Friday after the company announced a 24 percent increase in fourth quarter revenue and a swing to  profitability in Q4.  Shares hit a new 52-week high of $3.96 on Friday morning, up from Thursday’s closing price of $2.00

“Both revenue growth and the restructuring efforts we undertook in the third quarter contributed to our return to profitability in the fourth quarter,” said Interphase’s President and CEO, Gregory B. Kalush in a statement. “Although we are pleased with these results, we remain focused on our multi-tiered strategy to diversify our Company and enter new market segments that we believe can generate significant growth and fortify the future.”

The Plano-based company reported fourth quarter revenue of $5.8 million, up 24 percent from revenue of $4.7 million for the fourth quarter of 2009. Revenues in the quarter were primarily driven by a  28 percent increase in Interphase’s broadband telecom revenues, which increased to $5.0 million in the fourth quarter of 2010 compared to $3.9 million for the fourth quarter of 2009, and a 242 percent increase in  enterprise revenues, which rose  to $552,000 from $161,000 on a year ago.  Gross margin for the fourth quarter of 2010 was 55 percent compared to 37 percent for the fourth quarter of 2009. The increase in gross margin was primarily due to a shift in product mix toward higher margin products, increased utilization of Interphase’s manufacturing facility and reduction in obsolete inventory charges.

Net income in the fourth quarter was $447,000, or 6 cents per fully diluted share in the fourth quarter of 2010 compared to a net loss of $4.0 million, or or 57 cents per share in the fourth quarter of 2009.

For the full year, Interphase’s revenues decreased 40 percent to $18.2 million, compared to $25.6 million for 2009. Gross margin percentage increased to 50 percent for the year ended December 31, 2010, compared to 48 percent for the year ended December 31, 2009. Net loss for 2010 was $8.4 million, or $1.23 per share compared to a net loss of $5.6 million, or 81 cents per share for 2009.

Interphase delivers solutions for LTE and WiMAX, interworking gateways, packet processing, network connectivity, and security for key applications for the communications, aerospace-defense, and enterprise markets.

Shares of Interphase Corp. are up 172 percent over the past three months.

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