NCI Building Systems (NCS) is negotiating a sweetened exchange offer to convertible noteholders. The prior offer was for 500 dollars in cash plus 125 shares of NCI common stock, for every 1000 dollars of principal. The new offer under negotiation maintains the cash payout at 500 dollars but increases the number of shares offered to 390. NCI said in light of the negotiations it expects to delay the launch of the exchange offer which was originally planned to take place tomorrow. The company has obtained an extension of waivers from its bank group for more time. Shares plunged over 27% in early trading Thursday.
FX Energy (FXEN) will plug and abandon its Ostrowiec well, after encountering high pressure hydrogen sulfide gas as well as circulation problems. The Polish Oil and Gas Company was a 49% partner in the well. Shares of FX Energy tumbled over 22% Thursday morning on the news.
Online game developer GRAVITY (NASDAQ:GRVY) reported its results for the quarter. Revenue was up 10.7% year over year, but dropped 15.6% from the prior quarter. Earnings were 6 cents per American Depositary Share. Gravity shares were trading 15% lower after the report.
Sigma Designs (SIGM), provider of system-on-chip solutions for multimedia home entertainment systems, reported quarterly earnings of 18 cents per share. That's down from 35 cents in the same quarter last year, driven in part by a 12% year over year decline in revenue. Shares were down 15% in early trading Thursday.
And shares of retailer Conn's (NASDAQ:CONN) fell over 12% after the company reported quarterly results that were below expectations, with earnings of 22 cents per share. That's down from 49 cents in the same quarter last year. Looking ahead, the company lowered its guidance for its fiscal year ending January 31, 2010, and now expects to earn between a dollar 40 and a dollar 60 per share.
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