Data backup company Quantum Corp (NYSE:QTM) reported its highest quarterly net income in nearly five years, earning six cents per share. Revenue was down 19% year over year, but increased 9% from the prior quarter. Quantum shares surged over 20% in early trading on Wednesday.
Anika Therapeutics (NASDAQ:ANIK) posted a 37% year over year increase in net income, as revenue grew 17%. On a per share basis, the company earned 13 cents, compared to 10 cents in the same quarter last year. Anika shares advanced about 16 and a half percent.
Electronics manufacturer CTS Corporation (NYSE:CTS) announced earnings of 13 cents per share, up from last quarter's 21 cent loss. In the third quarter of 2008, the company had earned 31 cents. The company said year-to-date it has booked its strongest level of business awards yet, most of which will start during 2011 and 2012. On Wednesday morning CTS shares gained more than 16%.
And shares of Quaker Chemical (NYSE:KWR) were up more than 11 and a half percent, following a strong earnings report for the third quarter. The company grew its earnings per share 10% compared to Q3 of 2008, to 45 cents per share. That's 55% higher than the prior quarter. Quaker said has reduced its debt levels by almost a quarter from December 2008 levels.
For MarketNewsVideo.com, I'm Sayoko Murase.
