Healthcare Review: Anika Therapeutics, STAAR Surgical Company, BioCryst Pharmaceuticals, Affymetrix, Hanger Inc. Print E-mail
By Staff and Wire Reports   
Thursday, 01 August 2013 14:10
Stocks jumped to fresh all-time highs, joining a global stock rally kicked off by a factory report from China that eased worries about a slowdown in the world's second-largest economy. Thursday's stock rally kicked off in Asia, after an unexpectedly strong reading on Chinese factory activity. The official manufacturing purchasing managers' index for July came in above the reading that separates expansion from contraction. Japan's Nikkei Stock Average surged 2.5%. China's Shanghai Composite jumped 1.8%.

Anika Therapeutics, Inc. (NASDAQ:ANIK) shares climbed 25.32% to $25.20 in the early hour. The company on July 31 reported financial results for the quarter ended June 30, 2013. For the second quarter of 2013, total revenue grew 6.1% to $20.8 million, from $19.6 million a year earlier. Operating income for the second quarter of 2013 grew to $9.4 million, from $6.1 million in the same period in 2012. Net income increased to $5.9 million, or $0.40 per diluted share, from $3.7 million, or $0.26 per diluted share, in the second quarter last year.

STAAR Surgical Company (NASDAQ:STAA) shares increased 17.60% to $12.36. The company on July 31 reported revenue for the second quarter ended June 28, 2013 of $18.2 million, which represented 14% growth compared to $15.9 million reported for the second quarter of 2012. GAAP net income for the second quarter of 2013 was $278,000, or $0.01 on a per diluted share basis, compared with net loss of $491,000, or $0.01 on a per diluted share basis, in the second quarter of 2012, a $769,000 mprovement.  Adjusted net income for the quarter ended June 28, 2013 was $1.8 million or $0.05 per diluted share versus adjusted net income for the year ago quarter of $1.2 million or $0.03 per diluted share.

BioCryst Pharmaceuticals, Inc. (NASDAQ:BCRX) shares increased 15.57% to $5.09. The company, on July 31, announced the pricing of an underwritten public offering of 4,000,000 shares of its common stock, offered at a price to the public of $4.40 per share. The gross proceeds from this offering to BioCryst are expected to be $17.6 million, before deducting underwriting discounts and commissions and other estimated offering expenses payable by BioCryst. The offering is expected to close on or about August 6, 2013, subject to customary closing conditions. BioCryst expects to use net proceeds of this offering for general corporate purposes.

Affymetrix, Inc. (NASDAQ:AFFX) shares increased 11.71% to $4.25. The company on July 31 reported its operating results for the second quarter of 2013. Product revenue for the second quarter of 2013 was $74.2 million and service and other revenue was $5.3 million. For the second quarter of 2013, operating expenses were $45.1 million on a GAAP basis as compared to $54.1 million in 2012. Excluding Non-GAAP adjustments such as the amortization of acquired intangible assets and non-recurring charges, operating expenses were $42.0 million, compared to an adjusted total of $48.3 million in 2012.

Hanger Inc. (NYSE:HGR) shares dropped 16.39% to $30.87 in the early hour. The company on July 31 announced net sales of $273.7 millionfor the quarter ended June 30, 2013, an increase of $22.0 million, or 8.7%, from $251.7 millionfor the second quarter of 2012.   Diluted earnings per share were $0.40for the second quarter of 2013 compared to $0.50for the same period of 2012.  Adjusted diluted earnings per share increased 2% to $0.52for the second quarter of 2013 from $0.51 for the second quarter of 2012.




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