Each morning, the exchanges come alive – and finding a company with news to back its movement allows MN1 to bring you updates each morning and afternoon to keep you on top of the small and micro-cap markets. The following companies released news late yesterday evening or early this morning:Shares of International Absorbents (AMEX: IAX) rose $1.40 this morning, or 35 percent, to $5.45 on volume of 123,100. The company announced its first-quarter results for the fiscal year 2008, reporting increases in sales, net income and gross profit. Sales for the year ended April 30, 2007, increased 26 percent to $8,365,000 as compared to $6,621,000 for the same period 2007; net income grew to $623,000 as compared to $142,000 the year prior; and gross profit for the year increased 35 percent to $2.8 million versus $2.0 million last year.
Crystallex International Corp. (AMEX: KRY) shares climbed 77 cents, or 20 percent, to $4.68 on volume of 10,906,900 after word the company received notice that requirements for the Ministry of the Environment and Natural Resources of Venezuela regarding the issuance of its Environmental permit to begin construction of the Las Cristinas Project, have been fulfilled. Crystallex posted the required bond and paid required taxes, representing the final step for commencing operations on the project.
Coffee Holdings Co. Inc. (AMEX: JVA) shares climbed 51 cents, or 13 percent, to $4.46 on volume of 61,700 this morning. The company announced today its operating results for the three and six months periods ended April 30, 2007. Sales growth for the third quarter was up 18 percent to $14 million from $12 million the same period the year before; sales for the six months were up 4 percent to $27 million, up from $26 million the year prior. Net income rose to $338,888 for the three months ended April 30, 2007, as compared to a net loss of $284,234 the same period 2006. Net income for the sixth month period ended April 30, 2007 was up to $648,592 as compared to $235,404 the same period last year.
Shares of Ladenburg Thalmann Financial Services Inc. (AMEX: LTS) rose 17 cents, or 8 percent, to $2.43 this morning on word the Department of Justice granted the early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 – the news is in connection with the possible acquisition of additional shares of Ladenburg common stock.