Small Cap Stocks to Watch: May 16, 2017

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The markets are relatively mixed in the pre-market, following record high closes in the S&P 500 and Nasdaq yesterday. Key economic numbers traders will be watching this morning are housing starts and industrial production, which will be released in the pre-market. Small cap stocks announcing earnings today include: Red Robin Gourmet Burgers and China Digital.

Small Cap Stocks to Watch   

Pernix Therapeutics  (NASDAQ: PTX) shares are up over 30% this morning, after the company announced its first quarter 2017 results. The company issued these highlights:

First Quarter 2017 Financial Highlights:

  • First quarter 2017 net revenues decreased 8.6% from the first quarter of 2016, to $29.7 million from $32.5 million in the first quarter of 2016.
  • First quarter 2017 selling, general and administrative expense decreased by 22% compared to the first quarter of 2016, to $20.3 million from $26.0 million.
  • Net loss for the first quarter of 2017 was $29.5 million, as compared to net loss of $25.9 million for the three months ended March 31, 2016.
  • First quarter 2017 adjusted EBITDA improved to approximately ($0.3 million) from ($4.5 million) in the prior year period

For the full release click here.

Here’s a look at PTX after yesterday’s close:

Source: TradingView

Gilat Satellite (NASDAQ: GILT) is up over 7% during the pre-market, after the company filed its Q1 2017 results. The company released these highlights:

-Revenues for Q1 2017 increased 21% to $63.9 million from $52.7 million in Q1 2016.

-Reiterated management objectives for 2017: revenues between $280 to $300 million, GAAP operating income between $4 and $8 million, and Adjusted EBITDA of between $20 and $24 million.Adjusted EBITDA increased to $4.2 million, or 6.6% of revenues, compared with Adjusted EBITDA of $0.8 million, or 1.4% of revenues, in Q1 2016.

For the full release click here.

Check out GILT on the daily chart:

Source: TradingView

Magic Software Enterprises (NASDAQ: MGIC) shares are up over 7% ahead of the opening bell, after the company provided updates on its key financial information for the first quarter of 2017. The company was pleased to announce that achieved record breaking revenues. Here are some of the highlights for it’s quarter:

  • Revenues for the first quarter increased 36% year over year to $60.8 million compared to $44.7 million in the same period last year.
  • Operating income for the first quarter increased 20% to $6.3 million from $5.3 million in the same period last year. Non-GAAP operating income for the first quarter increased 26% to $8.4 million compared to $6.7 million in the same period last year.
  • Net income attributable to Magic’s shareholders for the first quarter increased 16% to $4.3 million, or $0.10 per fully diluted share, compared to $3.7 million, or $0.08 per fully diluted share, in the same period last year. Non-GAAP net income attributable to Magic’s shareholders for the first quarter increased 19% to $5.7 million, or $0.13 per fully diluted share, compared to $4.8 million, or $0.11 per fully diluted share, in the same period last year.
  • Cash flow from operating activities for the first quarter amounted to $10.5 million compared to $12.2 million in the same period last year.
  • As of March 31, 2017, our net cash, cash equivalents, short-term bank deposits and available-for-sale marketable securities amounted to $59.2 million.
  • Magic is reiterating its fiscal year 2017 guidance issued in February for full year revenues of between $225 million to $230 million on a constant currency basis, reflecting annual growth of 12% to 14%.

For the entire press release, click here.

Take a look at MGIC on the daily chart:

Source: TradingView

 

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