Post-Market NASDAQ Movers (PANL, EZPW, HMSY, SMBL, SGI, ROVI, POWL, STEC, NILE, RBCN)

The top after-market NASDAQ Stock Market gainers are: Universal Display, EZCORP, HMS Holdings, Smart Balance, and Silicon Graphics International. The top after-market NASDAQ Stock Market losers are: Rovi, Powell Industries, STEC, Blue Nile, and Rubicon Technology.

Gainers

Universal Display Corp. (PANL) stock grew 9.43 percent to $54.10 in the after-market trading. Profit for the third quarter was $5.99 million or $0.12 per share, compared to a loss of $7.19 million or $0.19 per share last year. The latest quarter's results included a non-cash gain of $240,000, while last year's results included a non-cash loss of $3.4 million on stock warrant liability. Revenue rose to $21.78 million from $7.06 million. Analysts had expected a loss of $0.01 per share on revenue of $12.41 million. Looking ahead into the fourth quarter, the company expects revenue to be below preceding third quarter due to season factors, while analysts predict $15.79 million. The company said its new arrangement with Samsung SMD provides the first real visibility into its potential future financial performance. For fiscal 2011, the company projects revenues of $58 million to $62 million, while Street predicts $49.63 million. For the fiscal 2012, the company expects revenue of $90 million to $110 million, while Street predicts $100.44 million.

EZCORP, Inc. (EZPW) stock gained 7.39 percent to $30.52 in the after-market trading. Profit for the fourth quarter was $36.36 million or $0.72 per share, up from $27.85 million or $0.56 per share last year. Revenue rose to $234.08 million from $198.17 million. Analysts had expected profit of $0.72 per share on revenue of $226.47 million. Looking ahead into the fiscal 2012, the company expects earnings of $3.05 to $3.10 per share, while Street predicts $3.01 per share.

HMS Holdings Corp. (HMSY) stock increased 7.09 percent to $30.67 in the after-market trading. The stock touched a new life-time high of $30.82 on Tuesday. HMS Holdings announced Monday a definitive agreement to buy privately held HealthDataInsights, Inc. for about $400 million. The consideration will consist of $384 million in cash paid at closing and about $16 million in the form of assumption of unvested options. The cash component will be financed in part through a $350 million bank term loan facility that will be established in connection with the closing of the acquisition, and in part through corporate cash. HMS Holdings said that, after applying its revenue recognition methodology, HealthDataInsights is projected to contribute about $85 million of revenue to HMS in 2012.

Smart Balance, Inc (SMBL) stock gained 5.50 percent to $5.6011 in the after-market trading.

Silicon Graphics International Corp. (SGI) stock increased 5.10 percent to $16.89 in the after-market trading. Adjusted profit for the first quarter was $2.19 million or $0.07 per share, compared to a loss of $1.84 million or $0.06 per share last year. Revenue rose to $179.90 million from $112.89 million. Analysts had expected profit of $0.04 per share on revenue of $163.79 million. Looking ahead into the fiscal 2012, the company reiterated its adjusted earnings guidance of $0.60 to $0.80 per share and revenue outlook of $740 million to $780 million, while Street predicts profit of $0.67 per share on revenue of $748.52 million.

In addition, Silicon Graphics filed a universal shelf registration statement on Form S-3 today with the Securities and Exchange Commission to raise up to an aggregate of $100 million, either through equity or debt instruments. The shelf registration is intended to provide strategic flexibility to pursue acquisitions. While Silicon Graphics has no immediate plans to sell stock or issue debt pursuant to the shelf registration statement, it is reasonable to assume the company may do so in the future.

Losers

Rovi Corp. (ROVI) stock plunged 21.25 percent to $36.24 in the after-market trading. Profit for the third quarter was $1.8 million or $0.02 per share, lower than last year's $36.4 million or $0.33 per share. Adjusted profit was $70.9 million or $0.63 per share, up from $59.9 million or $0.53 per share last year. Revenue grew to $196.5 million from $138 million, while adjusted revenue rose to $196.5 million from $182.5 million. Analysts had expected profit of $0.61 per share on revenue of $197.94 million.

Powell Industries, Inc. (POWL) stock plummeted 18.91 percent to $26.71 in the after-market trading. The company has concluded that its previously issued consolidated financial statements for the second and third quarters of fiscal 2011 contain certain accounting errors originating from its Canadian operations. Accordingly, such financial statements should no longer be relied upon. The company said it will restate its consolidated financial statements for the second and third quarters of fiscal 2011 through the filing of amendments to the previously filed Forms 10-Q. The accounting errors occurred at Powell Canada as a result of inaccurate recording of customer change orders, an erroneous journal entry recorded in accounts payable, incorrect close-out of costs on certain jobs and the application of an incorrect manufacturing overhead rate, which overstated earnings in the second and third quarters. These errors indicate material weaknesses in internal controls over financial reporting. The company is in the process of analyzing the control deficiencies and developing remediation plans. The cumulative effect of these issues will cause a reduction in previously reported net income for the nine months ended June 30, 2011 of about $2.7 million or $0.23 per share.

Powell Industries has taken the following steps to strengthen its financial reporting and project management for its Canadian operations: the company has hired a new Controller for Powell Canada and that individual is currently in place, members of the accounting and operations staff have received additional training, and the company has hired a full time specialist on-site in Canada to evaluate and make recommendations for improvement in the estimating, operations, and project management functions. In addition, in the fourth quarter of fiscal 2011, the company will record an impairment of the remaining intangible assets recorded in connection with the acquisition of Powell Canada, totaling $7.2 million or $0.61 per share. This non-cash impairment charge is the result of continued losses from Powell Canada, which have delayed and reduced the company's projections for revenues and cash flow going forward.

Powell Industries lowered its fiscal 2011 adjusted earnings guidance to range of $0.51 to $0.56 per share from previous forecast of $1.05 to $1.15 per share. The company now expects its 2011 revenue of about $560 million, compared to previous outlook range of $545 million to $570 million. Street analysts predict profit of $1.07 per share on revenue of $554.53 million for the fiscal 2011.

STEC, Inc. (STEC) stock dropped 18.80 percent to $9.50 in the after-market trading. Profit for the third quarter was $4.84 million or $0.09 per share, lower than last year's $13.62 million or $0.26 per share. Adjusted earnings from continuing operations were $0.14 per share, down from $0.31 per share last year. Revenue fell to $72.53 million from $86.07 million. Analysts had expected profit of $0.10 per share on revenue of $70.71 million. Looking ahead into the fourth quarter, the company expects revenue of $55 million to $57 million and adjusted results between break-even and loss of $0.02 per share, while Street predicts profit of $0.11 per share on revenue of $72.55 million.

Blue Nile Inc. (NILE) stock fell 17.03 percent to $40.50 in the after-market trading. Profit for the third quarter was $1.9 million or $0.13 per share, lower than last year's $2.8 million or $0.19 per share. Sales rose 11.2 percent to $75 million. Analysts had expected profit of $0.18 per share on revenue of $72.60 million. Looking ahead into the fourth quarter, the company expects earnings of $0.41 to $0.43 per share and revenue of $121 million to $125 million, while Street predicts profit of $0.46 per share on revenue of $122.56 million. For the full year 2011, the company projects earnings of $0.87 to $0.89 per share and revenue of $356 million to $360 million, while Street predicts profit of $0.98 per share on revenue of $357.02 million.

Separately, Blue Nile said its Chief Executive Officer, President and Director, Diane Irvine, has resigned, effective Nov. 11. Vijay Talwar, Senior Vice President and General Manager of International, has been appointed interim Chief Executive Officer. During the transition period, Chairman Mark Vadon will take an active role in the leadership of the company, working closely with Talwar. With the support of the Board, Vadon will also lead the search for a permanent CEO.

Rubicon Technology, Inc. (RBCN) stock tumbled 12.28 percent to $10.50 in the after-market trading. Profit for the third quarter was $8.19 million or $0.35 per share, compared to $8.30 million or $0.35 per share last year. Revenue grew 64 percent to $33.64 million. Analysts had expected profit of $0.26 per share on revenue of $31.20 million. Looking ahead into the fourth quarter, the company expects earnings of $0.07 to $0.10 per share and revenue of $20 million to $23 million, while Street predicts profit of $0.26 per share on revenue of $31.98 million.