The top after-market NASDAQ Stock Market gainers are: LCA-Vision, Keynote Systems, Regeneron Pharmaceuticals, ReachLocal, and ShoreTel. The top after-market NASDAQ Stock Market losers are: MIPS Technologies, Broadcom, RF Micro Devices, MAKO Surgical, and DDI Corp.

Gainers

LCA-Vision Inc. (LCAV) stock jumped 11.44 percent to $7.50 in the after-market trading, as its first quarter earnings exceeded Street view. Profit was $2.02 million or 11 cents a share, compared to a loss of $564,000 or 3 cents a share last year. Revenue declined to $32.28 million from $34.01 million. Analysts had expected a loss of 3 cents a share on revenue of $30.89 million.

LCA-Vision said it plans to manage expenses conservatively in 2011. The company does not plan to open any new vision centers in the near term. LCA-Vision will consider restarting its de novo center opening program when market conditions improve. The company expects marketing and advertising spend for the 2011 second quarter to range from $5.5 million to $6.5 million. The company expects capital expenditures in 2011 of $1.5 million for vision center renovations, relocations and equipment replacement. The company does not expect to receive a tax refund in 2011.

The company affirmed its expectation that the number of procedures companywide required for breakeven cash flow, after capital expenditures and debt service, is approximately 70,000 per year. The company continues to believe that it has sufficient cash and investments to fund its business beyond 2013 at 52,500 procedures annually. The average number of procedures required for each vision center to reach breakeven remains at 95 per month.

Keynote Systems Inc. (KEYN) stock climbed 9.93 percent to $23.35 in the after-market trading, as it guided third quarter earnings and revenue above Street view. The company expects third quarter adjusted earnings of 22 cents to 28 cents a share and revenue of $24.5 million to $25.5 million, while Street predicts profit of 21 cents a share on revenue of $23.81 million.

Keynote reported second quarter adjusted earnings of $5.0 million or 29 cents a share, up from $1.5 million or 10 cents a share last year. Revenue rose to $24.1 million from $19.4 million. Analysts had expected profit of 21 cents a share on revenue of $23.59 million. The company said that its board approved a quarterly cash dividend of 6 cents a common share, payable June 15 to common stockholders of record at the close of business on June 1.

Regeneron Pharmaceuticals, Inc. (REGN) stock grew 7.59 percent to $56.10 in the after-market trading. Sanofi-Aventis and Regeneron Pharmaceuticals said that the Phase III VELOUR trial evaluating the investigational agent ZALTRAP or aflibercept, also known as VEGF Trap, in combination with the FOLFIRI chemotherapy regimen, 5-fluorouracil, and irinotecan] versus a regimen of FOLFIRI plus placebo met its primary endpoint of improving overall survival in the second-line treatment of metastatic colorectal cancer.

Regeneron said the most frequent adverse events reported with ZALTRAP in combination with FOLFIRI were diarrhea, asthenia/fatigue, stomatitis and ulceration, nausea, infection, hypertension, gastrointestinal and abdominal pains, vomiting, decreased appetite, decreased weight, epistaxis, alopecia, and dysphonia. Based upon these positive findings, we and Sanofi-Aventis plan to submit regulatory applications for marketing approval to the U.S. Food and Drug Administration and the European Medicines Agency in the second half of the year, said George Yancopoulos, Chief Scientific Officer of Regeneron and President of Regeneron Research Laboratories.

ReachLocal, Inc. (RLOC) stock gained 5.56 percent to $18.99 in the after-market trading, as its first quarter loss narrowed from Street's view. Loss widened to $3.5 million or 12 cents a share from $2.3 million or 10 cents a share last year. Adjusted loss narrowed to $494,000 or 2 cents a share from $1.23 million or 5 cents a share last year. Revenue rose to $84.06 million from $63.6 million. Analysts had expected a loss of 18 cents a share on revenue of $84.36 million.

ReachLocal expects second quarter revenue of $92.5 million to $94.5 million, while Street predicts $93.74 million. The company still expects fiscal 2011 revenue of $380 million to $400 million, while Street analysts predict $392.10 million. The company raised its full-year 2011 adjusted EBITDA guidance to range of $9 million to $11 million from previous forecast of $6 million to $8 million.

Separately, ReachLocal said it formed a global partnership with Google Inc. (GOOG) to accelerate the delivery of Google's AdWords advertising program to local businesses internationally by combining ReachLocal's feet-on-the-street sales model and SMB-focused search engine marketing platform with Google's existing worldwide AdWords marketing and partnership support organizations. The company said the partnership is designed to drive both growth in existing markets and expansion into new international markets over the next three years.

ShoreTel, Inc. (SHOR) stock increased 5.43 percent to $9.70 in the after-market trading. Adjusted profit for the third quarter was $602,000 or 1 cent a share, compared to a loss of $1.67 million or 4 cents a share last year. Revenue rose to $51.58 million from $37.03 million. Analysts had expected a loss of 2 cents a share on revenue of $49.78 million. The company expects fourth quarter revenue of $53 million to $56 million, while Street predicts $53.60 million. Adjusted gross margin is expected to be 67 percent to 68 percent.

Losers

MIPS Technologies Inc. (MIPS) stock plunged 11.05 percent to $9.50 in the after-market trading, as its third quarter earnings and revenue missed Street view. Adjusted profit was $4.7 million or 9 cents a share, up from $3.9 million or 8 cents a share last year. Revenue rose to $20.1 million from $17.5 million. Analysts had expected profit of 10 cents a share on revenue of $21.70 million. In the conference call, the company said it now expects full-year revenues of $84 million to $86 million, lower than its projection of $85 million to $88 million. Royalty revenue is expected to drop 8 percent to 10 percent in the fourth quarter, on lower volumes of shipping. Street analysts predict revenue of $87.21 million for full year 2011.

Broadcom Corp. (BRCM) stock fell 8.24 percent to $37.08 in the after-market trading, as it guided second quarter revenue below Street view. The company expects second quarter revenue of $1.75 billion to $1.85 billion, with margins anticipated to improve 50 basis points from the first quarter. Street analysts predict revenue of $1.9 billion.

Broadcom reported first quarter earnings of $228 million or 40 cents a share, compared to $210 million or 40 cents a share last year. Results for the quarter include impairment costs of $9 million. Revenue rose to $1.82 billion from $1.46 billion. Analysts had expected profit of 59 cents a share on revenue of $1.81 billion.

RF Micro Devices Inc. (RFMD) stock tumbled 6.65 percent to $5.90 in the after-market trading. Adjusted profit for the fourth quarter was $21.70 million or $0.08 a share, down from $43.8 million or $0.16 a share last year. Revenue fell to $213.3 million from $260.8 million. Analysts had expected profit of $0.08 a share on revenue of $213.91 million. The company expects first-quarter revenue to be flat to down 5 percent sequentially, as 8 percent to 12 percent growth in RFMD's core business is offset by declining sales of legacy products. Street analysts predict revenue of $226.92 million for the first quarter.

MAKO Surgical Corp. (MAKO) stock slid 6.51 percent to $25 in the after-market trading.

DDI Corp. (DDIC) stock declined 6.34 percent to $9.30 in the after-market trading. Profit for the first quarter was $5.0 million or 24 cents a share, up from $3.8 million or 19 cents a share last year. Sales rose to $66.5 million from $64.7 million. Analysts had expected a profit of 25 cents a share on revenue of $66.88 million.

Given our solid first quarter results and our positive momentum headed into the second quarter, we are cautiously optimistic about our prospects in 2011. While the strength of the economic recovery is uncertain and we continue to monitor the situation in Japan, we believe our business strategy, improving operational performance and sound financial condition serve as a solid start to 2011, said Mikel Williams, President and Chief Executive Officer of DDi Corp.