Technology Gainers On Volume: LNUX Jumps On 2009 Q4 Financial Results
Geeknet, Inc. (NASDAQ:LNUX) rose 22.46% up to a 52 week high of $1.58 on news the company reported growth during its fourth quarter, and an increase in revenue for the year ending Dec. 31st 2009 which help to offset net losses from a $1.2 million write-off of software and a $4.6 million impairment charge for an investment in CollabNet. Highlights of the report note that revenue for the fourth quarter of 2009 grew to $32.6 million from $24.8 million for 2008 Q4. Net income for the fourth quarter of 2009 slipped to $0.03 per share from $0.04 per share, for the same period in 2008. Revenue for the twelve months ended December 31, 2009 was $65.6 million compared to $59.4 million for 2008; however net loss for the twelve months ended December 31, 2009 was $14.0 million or $0.23 per share compared to a net loss of $4.8 million or $0.07 per share for the comparable period a year ago. The company also announced it appointed Robert A. Bowman to its Board of Directors on February 8th. Headquartered in Mountain View, California, Geeknet is the online network for the global technology community. The company’s network of websites include: SourceForge, Slashdot, ThinkGeek, Ohloh and freshmeat which host about 40 million viewers each month.
Hydrogenics Corporation (USA) (NASDAQ:HYGS) gained 16.19% up to $0.244 on no news. Earlier this week, the company announced an upcoming share consolidation of its issued and outstanding common shares to comply with the NASDAQ’s Minimum Bid Price Rule. The consolidation will be effective as of March 12th, 2010, and will be executed with a ratio of one post-consolidation share for every 25 pre-consolidation shares. Based in Mississauga, Canada, Hydrogenics Corporation develops and manufactures hydrogen generators and fuel cell products for industrial and clean energy markets in North America and Europe.
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