Small Cap News Movers for 8/11/09

AVANIR Pharmaceuticals, Inc. (NASDAQ:AVNR) today announced that the investigational drug Zenvia™ met its primary efficacy endpoint in the treatment of pseudobulbar affect (PBA) in the confirmatory Phase III STAR trial. Both Zenvia 30/10 mg and 20/10 mg provided a statistically significant reduction in episode rates over the course of the study when compared to placebo (p<0.0001). In an additional analysis of the primary endpoint, at week twelve (end of study), patients in the Zenvia 30/10 mg group reported a statistically significant mean reduction of 88% from baseline in PBA episode rates (p=0.01).

Tongxin International Ltd. (NASDAQ: TXIC) yesterday after the closing bell announced the Company's second quarter 2009 financial results. Net revenues for the second quarter ended June 30, 2009 reached $34.8 million, an approximate $11.7 million, or 50.2 % increase, over the same period the prior year. Net income was $4.4 million, representing an increase of 80.4% from $2.6 million reported in the same period prior year. Net profit margins were 12.7% for the quarter which is a 200-basis point improvement in net margins from 10.6% reported the second quarter of 2008.

Rock of Ages Corporation (NASDAQ: ROAC) announced today that net income for the second quarter of 2009 increased 97% to $1,433,000, or $0.19 per diluted share, compared to net income of $727,000, or $0.10 per diluted share, for the second quarter of 2008. "The production improvements and cost-cutting measures we implemented last year are delivering the positive results we anticipated even in the midst of the current recession," stated CEO Donald Labonte.

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