Shares of MER Telemanagement Solutions Ltd. (NASDAQ: MTSL), a provider of solutions for telecommunications expense management, surged in trading on Friday.
MTSL shares rose to a new 52-week high of $2.84 on Friday before ending the day 40.62% higher at $2.25 on above average volume of 661,271.
MTSL shares surged as the company announced its second-quarter financial results. The company reported second-quarter revenue of $3.3 million, compared to $3 million reported for the same period in the previous year.
Operating profit for the second quarter was $517,000, compared to $191,000 reported for the same period in the previous year. Net income for the second quarter was $460,000, or $0.10 per diluted share, compared to net income of $229,000, or $0.05 per share reported for the same period in the previous year.
Shares of IMPAC Mortgage Holdings Inc. (AMEX: IMH), a company engaged in mortgage lending and portfolio loss mitigation and real estate services, rallied in trading on Friday.
IMH shares ended the day 22.56% higher at $4.89 on above average volume of 293,525. The stock gained 118.3% in the last three trading sessions.
IMH shares surged after the company reported its second-quarter financial results. The company continued to expand its mortgage lending business through its indirect subsidiary, Excel Mortgage Servicing Inc.
In the second quarter of 2012, Excel increased its residential mortgage originations volume 46% on a sequential basis to $531.9 million. Sales of mortgage loans climbed 33% on a sequential basis to $474.5 million in the second quarter of 2012.
IMH’s consolidated net earnings for the second quarter ended June 30, 2012 were $4.2 million, or $0.51 per diluted share, compared to net earnings of $361 million, or $0.04 per diluted share reported for the same period in the previous year.
Shares of Andate China Marine Fuel Services Corp. (NASDAQ: AMCF), a company engaged in production of storage, distribution, and trading of blended marine fuel oil for cargo and fishing vessels in China, rallied in trading on Friday.
AMCF shares rose to an intra-day high of $1.45 before ending the day 19.83% higher at $1.39 on above average volume of 100,477.
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