Small Cap News Movers for 6/29/09

Crafts, Inc. (NASDAQ: CRWS) announced this morning its financial results for the fourth quarter and full fiscal year ended March 29, 2009. The company's net loss for the quarter totaled $0.6 million on net sales of $24.0 million. For the full fiscal year, the net loss totaled $17.1 million on net sales of $87.4 million. This compared to net income for fiscal 2008 of $4.4 million, or $0.43 per diluted share, on net sales of $74.9 million. The stock closed at $3.22, up 43.27%, on 23,317 traded shares.

China Direct Industries, Inc. (NASDAQ: CDII) in recent news announced that its Basic Materials segment has received several sales contracts for the delivery of various synthetic chemicals and reinforcing steel bars which have the potential to generate approximately $30.5 million in 2009. The contracts come as management of this segment sees improvements in its business outlook as China's economy begins to show signs of recovery. The stock closed at $1.68, up 17.48%, on 1,136,217 traded shares.

Silvercorp Metals Inc. (AMEX: SVM) announced Friday after the closing bell its updated mineral resource estimate for its GC silver-lead-zinc project located in the Guangdong Province, Southern China. According to the press release, the estimated resource is 250% greater than the resource reported in the previous resource estimate by SRK Consulting due to the fact that the new estimation is based on 26 veins as compared to 13 veins, and additional infill and step out drilling completed. The stock closed at $3.78, up 7.39%, on 1,257,264 traded shares.

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