Tennant Company Slumps On Earnings (NGSX, TNC, LNDC, HTWR)

Tennant Company Slumps On Earnings (NGSX, TNC, LNDC, HTWR)

NeurogesX, Inc(NASDAQ:NGSX) shares are taking hard knock and slumped 13% to $0.479 after the Nasdaq Stock Market informed the company concern that it has not been able to meet the minimum market capitalization requirement for continued listing on the exchange.

Tennant Company(NYSE:TNC) shares slumped 11.31% to $42.43                after the company reported a below expected revenue for the first quarter due ongoing crisis in Europe.

The company earned $5.3 million, or $0.28 a share, compared to a year ago profit of $5.9 million, or $0.30 a share, below analysts’ estimates of 39 cents a share.

Revenue during the quarter rose marginally to $173.7 million from $172.6 million, again missing the analysts’ estimates of $177.8 million.

Geographically, sales increased 3.0% in the Americas and Europe, Middle East and Africa (EMEA) sales were down 4.0%.

The company maintained its e 2012 full year earnings in the range of $2.30 to $2.45 a share on net sales in the range of $790 million to $805 million. For full year 2011, adjusted earnings totaled $1.95 per diluted share on net sales of $754 million.

Landec Corporation(NASDAQ:LNDC) shares added 3.80% to $6.55 after the company agreed to acquire GreenLine Foods for $63 million in cash with no assumed debt. Moreover, the company lifted its FY2012 guidance and now projects to revenues to grow 9% to 10% compared to original guidance of 5% or better growth. In addition, it expects net income to grow approximately 40%, after adding back the one-time impairment charge of $4.8 million to net income for fiscal 2011, compared to prior guidance of 30% to 40%.

HeartWare International Inc(NASDAQ:HTWR) shares jumped 4.10% to $69.89 after the company after the FDA says the firm’s blood pump appears to aid patients with severe heart failure. However, the agency raises safety concerns about clotting rates and stroke, and says the clinical trials may have missing data and are difficult to compare. An FDA advisory panel is due to vote on the device on Wednesday.