The top after-market NASDAQ Stock Market gainers are: HiSoft Technology International, GT Solar International, Cninsure, Perfect World, and Novavax. The top after-market NASDAQ Stock Market losers are: Identive Group, Silicon Image, DragonWave, Fortinet, and Ariba.

Gainers

HiSoft Technology International Ltd. (HSFT) stock jumped 17.27 percent to $15.96 in the after-market trading. The company expects second quarter adjusted earnings of $0.17 to $0.18 per American Depository Share (ADS), and revenue of at least $47 million, while Street predicts profit of $0.18 per ADS on revenue of $45.45 million. For the full year 2011, the company reaffirmed its adjusted earnings guidance of $0.76 to $0.80 per ADS and revenue forecast of at least $194.5 million, while Street predicts profit of $0.77 per ADS on revenue of $192.74 million.

HiSoft Technology reported first quarter earnings of $2.77 million or $0.09 per ADS, down from $2.97 million or $0.13 per ADS last year. Adjusted earnings were $4.7 million or $0.15 per ADS, compared to $3.86 million or $0.17 per ADS last year. Revenue grew 45.1 percent to $44.31 million. Analysts had expected profit of $0.15 per ADS on revenue of $42.37 million.

GT Solar International, Inc. (SOLR) stock climbed 13.60 percent to $13.20 in the after-market trading. Profit for the fourth quarter was $51.9 million or $0.41 per share, up from $33.3 million or $0.23 per share last year. Revenue grew to $271.6 million from $194.7 million. Analysts had expected profit of $0.34 per share on revenue of $223.74 million.

For the full year 2012, GT Solar raised its earnings guidance to range of $1.55 to $1.85 per share from previous forecast of $1.25 to $1.50 per share. The company also increased its revenue outlook to range of $1 billion to $1.1 billion from previous range of $850 million to $1 billion. Street analysts predict profit of $1.45 per share on revenue of $966.41 million.

Cninsure Inc. (CISG) stock grew 5.41 percent to $16.75 in the after-market trading. Profit for the first quarter was 240.8 million Chinese yuan or 4.693 Chinese yuan per ADS, up from 67.3 million Chinese yuan or 1.429 Chinese yuan per ADS last year. Adjusted earnings were 81.1 million Chinese yuan or 1.581 Chinese yuan per ADS, up from 59.5 million Chinese yuan or 1.262 Chinese yuan per ADS last year. Revenue increased 28.3 percent to 313.7 million Chinese yuan.

On U.S. dollar basis, the company reported earnings of $36.8 million or $0.717 per ADS, and adjusted profit was $12.4 million or $0.241 per ADS for the latest quarter. Revenue were $47.9 million for the first quarter of 2011. Looking ahead into the second quarter, CNinsure expects its adjusted earnings to grow by about 18 percent.

Perfect World Co., Ltd. (PWRD) stock gained 4.38 percent to $25 in the after-market trading. Profit for the first quarter was 263.7 million Chinese yuan or 4.99 Chinese yuan per ADS, up from 305.2 million Chinese yuan or 5.75 Chinese yuan per ADS last year. Adjusted profit fell to 289.5 million Chinese yuan or 5.48 Chinese yuan per ADS from 327 million Chinese yuan or 6.16 Chinese yuan per ADS last year. Revenue grew to 721 million Chinese yuan from 625 million Chinese yuan.

On U.S. dollar basis, Perfect World reported earnings of $40.3 million or $0.76 per ADS, and adjusted profit was $44.2 million or $0.84 per ADS for the latest quarter, on revenue of $110.1 million. Analysts had expected profit of $0.55 per ADS on revenue of $99.56 million. Looking forward to the second quarter, the company expects revenue of 685 million Chinese yuan to 721 million Chinese yuan, an increase of 15 percent to 21 percent on a year-over-year basis.

Novavax, Inc. (NVAX) stock increased 4.17 percent to $2.50 in the after-market trading.

Losers

Identive Group, Inc. (INVE) stock fell 4.08 percent to $2.82 in the after-market trading. The company said it is offering to sell shares of its common stock in an underwritten public offering in the United States. Identive expects to grant the underwriters a 30-day option to purchase up to an additional 15 percent of the offered amount of common stock from Identive at the public offering price, less underwriting discounts and commissions, to cover over-allotments, if any.

The offering is subject to market conditions and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering. Identive said it plans to use the proceeds of the offering to fund continued growth, acquisitions, working capital and general corporate purposes.

Silicon Image, Inc. (SIMG) stock slid 2.01 percent to $7.30 in the after-market trading.

DragonWave Inc. (DRWI) stock declined 1.93 percent to $6.09 in the after-market trading.

Fortinet Inc. (FTNT) stock decreased 1.79 percent to $46 in the after-market trading.

Ariba Inc. (ARBA) stock declined 1.75 percent to $30.79 in the after-market trading.