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ATS Medical (Nasdaq: ATSI) $2.72. Today announced that the FDA has approved a landmark clinical study in which cardiac surgeons will implant the ATS 3f® Aortic Bioprosthesis in a younger aortic valve replacement patient population that has not been previously studied in a controlled and scientific manner. This new FDA approved clinical study will enroll patients younger than 60 years of age, with half of the population younger than 50 years of age. The Company believes that this study will ultimately demonstrate the excellent safety, efficacy and durability of the ATS 3f Aortic Bioprosthesis in this new patient population, while illustrating the performance necessary to maintain the active lifestyle of the younger population.
What They Do: ATS Medical, Inc. is dedicated to 'Advancing The Standards' of cardiac surgery through the development, manufacturing and marketing of innovative products and services for the treatment of structural heart disease.
China Sunergy Co. (Nasdaq: CSUN) $4.44. Today announced its financial results for the second quarter of 2009. Revenues were US$70.1 million, an 89.5% increase compared to the first quarter of 2009. Revenues generated from solar cell sales were US$54.5 million, representing a 58.4% increase compared to the first quarter of 2009. Gross profit was US$6.8 million for the second quarter, compared to gross loss of US$8.8 million during the first quarter of 2009. Accordingly, gross margin was 9.7%, compared to negative 23.7% during the first quarter of 2009. GAAP net income was US$1.7 million. Adjusted non-GAAP net income was US$1.2 million, which excludes share-based compensation and the change in the fair value of foreign currency derivatives. This compares to non-GAAP net loss of US$13.2 million in the first quarter of 2009.
What They Do: China Sunergy Co. is a specialized manufacturer of solar cell products in China. China Sunergy manufactures solar cells from silicon wafers utilizing crystalline silicon solar cell technology to convert sunlight directly into electricity through a process known as the photovoltaic effect.
Fred's, Inc. (Nasdaq: FRED) $13.57. Today announced financial results for the second quarter and six months ended August 1, 2009. For the second quarter of 2009, Fred's net income increased to $4.2 million or $0.11 per diluted share from $1.0 million or $0.03 per diluted share in the same quarter last year. Included in the results of the second quarter were expenses amounting to $0.9 million or $0.02 per diluted share relating to tax audits of the years 2004 through 2007. Excluding the effects of these tax audits and year-earlier net costs incurred with the Company's store-closing program, earnings per diluted share increased 30% to $0.13 from $0.10 for the second quarter last year, while adjusted net income increased to $5.1 million from $4.2 million for the second quarter last year.
What They Do: Fred's, Inc. operates 669 discount general merchandise stores, including 24 franchised Fred's stores at year-end. About SmallCapReview Copyright SmallCapReview. SmallCapReview.com has been a leading site for news on small-cap stocks since 1999. SmallCapReview has built a loyal opt-in following for their investor products by providing a newsletter at no cost, sent to subscribers, highlighting select small-cap stocks, to register visit http://www.smallcapreview.com.
