Late on Monday, Metabasis Therapeutics Inc. (NASDAQ: MBRX) reported that its fourth quarter net loss narrowed to $9.8 million or 28 cents a share, compared to a loss of $10.9 million, or 35 cents a share, in the prior year quarter. Revenue increased to $1.8 million from $1.3 million in the same period a year ago. Analysts on average expected the company to report a loss of 28 cents a share on revenue of $2.08 million. President, Chief Executive Officer and Chief Scientific Officer Dr. Mark Erion said in a statement “Metabasis underwent significant restructuring at the end of 2008 and early 2009 in an effort to extend the Company’s operating runway and consequently enhance its ability to achieve several near-term value-driving milestones.” Shares of the company plunged over 10% in regular trade on Monday.

Oxford Industries Inc. (NYSE: OXM) announced that it swung to a fourth quarter net loss of $281.6 million or $18.17 a share, compared to net earnings of $5.9 million or 36 cents a share in the year ago quarter. On an adjusted basis, the company earned 6 cents a share for the latest quarter. Revenue slipped to $199.9 million from $261.9 million in the year earlier quarter. Consensus estimates were for earnings of 3 cents a share for the quarter on revenue of $199.57 million. Chairman and CEO J. Hicks Lanier stated "While we are not satisfied with our results for the fourth quarter, there is no question that they have been impacted by perhaps the worst retail environment in the history of our Company.  While we are hopeful that we will see a return to more normalized levels of consumer activity, our plans for the future incorporate a prudent and cautious view of fiscal 2009." Shares of Oxford Industries were down 2.63% in extended trading.  

TOR Minerals International Inc. (NASDAQ: TORM) reported a wider fourth quarter net loss of $3.7 million or 47 cents a share, compared to a net loss of $230,000 or 3 cents a share in the same quarter, a year ago. On an adjusted basis, the company reported net loss of $411,000 or 5 cents a share, compared to net earnings of $159,000 or $0.02 per share in the year-ago quarter. Revenue tumbled 31% to $4.1 million from $5.9 million. CEO Dr. Olaf Karasch commented "Many negative factors including increased freight and energy costs during the beginning of the year and a sharp drop in 4Q sales resulted in TOR Minerals' first annual loss in seven years. Nevertheless, we were able to make progress with several new product introductions and improved the efficiencies of our operations. We expect these improvements to provide growth and profitability drivers when the economy emerges from bottom of the economic cycle." He added "The conditions that led to weak sales levels in the fourth quarter have continued to negatively affect our revenue performance thus far in 2009. In response to lower sales levels, we have implemented a 20% reduction in employee and management salaries and additional cost and operational efficiency measures. Combined, these actions are expected to result in over $1 million in annual savings. Although somewhat slower than we had anticipated, our new TIOPREM products continue to gain market acceptance. Combined with some recent success we've had with other new products, we hope to offset the sales decreases in more mature product categories." Shares of the company closed up 3.45% in regular trade on Monday.

Disclosure: Author does not own any of the stocks discussed here.