Benzinga's Microcap Movers for Monday March 12, 2012
Below are highlights from Benzinga's daily coverage of microcap securities making big moves:
Clean Diesel Technologies
Shares of Clean Diesel Technologies (NASDAQ: CDTI), the Ventura, CA manufacturer and distributor of emissions control systems and products for heavy duty diesel and light duty vehicles, rose 56% Monday on 29 times the average daily volume.
Clean Diesel Technologies announced Monday its financial results for the fourth quarter and fiscal year ended December 31, 2011.
The company reported record fourth quarter revenue of $21.3 million, up 80.5% year over year, income from operations of $0.2 million in fourth quarter 2011 compared to loss from operations of $3.9 million in 2010 and record fiscal year 2011 revenue of $61.6 million, up 28.0% year over year.
Clean Diesel Technologies closed at $4.85 on Monday.
Shares of NewLead Holdings (NASDAQ: NEWL), the Greek shippng company, rose 96% Monday on 5.75 times the average daily volume.
NewLead Holdings announced Monday the completion of the sale of the four LR1 product tankers and one Panamax dry bulk vessel, the 1990-built "Newlead Esmeralda". The sale of these vessels was conducted as part of the Company's overall financial restructuring plan.
Following the successful completion of sale of the five vessels, the net sales proceeds have been applied in full satisfaction of all liabilities under the governing loan agreements. NewLead's overall indebtedness decreased by an aggregate of approximately $159.0 million after these sales, of which a decrease of $147.9 million resulted from the sale of the four LR1 product tankers and a decrease of $11.1 million resulted from the sale of the "Newlead Esmeralda" for total sale proceeds of $12.0 million out of which $0.9 million will be used to satisfy a substantial part of the vessel's trade debt.
NewLead Holdings closed at $1.08 on Monday.
Top Image Systems
Shares of Top Image Systems (NASDAQ: TISA), the Israeli provider of enterprise content management solutions, rose 12% Monday on 5 times the average daily volume.
Top Image Systems announced Monday the filing for a patent regarding its Intelligent Mobile Document Delivery Applications. A leading supplier of data and document capture and processing solutions to large enterprises, Top Image Systems provides its customers with the capacity to input and process information from an ever-expanding range of devices, including smartphones.
Top Image Systems has developed a mobile Remote Deposit Capture technology which offers the same high-quality document detection and verification capabilities already included in TIS' eFLOW Platform, yet extends them to the smartphone device, thus vastly increasing the flexibility and mobility of the applications that can leverage the technology.
Top Image Systems closed at $3.49 on Monday.
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