Sparton Corp. (SPA: chart), reported that its 4Q net income surged to $4.9 million, or 55 cents per share, versus $1.5 million, or 17 cents per share a year earlier. The latest quarter financial results include a $5.5 million cash payment from an insurance settlement.

Net sales in the fourth quarter dropped slightly to $45.9 million versus $47.8 million a year ago.

For the full fiscal year ended June 30, Sparton reported a profit of $8.1 million, or 91 cents per share, versus with a loss of $2 million, or 23 cents per share for the year-ago comparable quarter. Net sales rose to $167.2 million vs. $161 million.

Sparton announced it will pay a cash dividend of 10 cents per share in October, to holders of record as of Sept. 14. The company also is to implement a plan to repurchase up to $4 million of its common shares over the next 24 months.

Sparton’s shares added 4.7%, to a new high of $10.29 in mid-morning trading on the New York Stock Exchange.

Wet Seal Inc. (WTSLA: chart), specialty apparel retailer, reported Monday that its 2Q loss narrowed to 87 cents a share vs. $3.31 a year earlier. Excluding non-cash compensation charges, the company reported operating income of $4.2 million. Sales for the quarter ended July 30 climbed to $126.3 million vs. $105.7 million last year. The company’s shares closed Friday at $5.31, down 8 cents.

Bodisen Biotech, manufacturer of environmentally friendly bio fertilizer products said its common stock started trading on the American Stock Exchange under the stock symbol: BBC. The company posted 18 cents a share, a rise of 50% over the year-ago period on 99% revenue growth for the same quarter last year. Bodisen is serving the needs of China's 900 million farmers.

XPEL, electronic delivery of top automotive aftermarket productscompany, reported that 2Q revenue was $824,398, 31% up from 1Q $631,344 of 2005. The revenue growth came as a result of a 33% increase in Design Access Program fees, a 41% increase in Other income, consisting of training revenues and third-party enabling equipment such as plotters and a 25% growth in Kit and material sales. XPEL is publicly traded on the Canadian Trading and Quotation System Exchange.

Rally Energy, Canadian oil company, posted 2Q net income of 1 cent a share, up vs. a net loss of 1 cent a share in the 1Q of 2005. Revenue was up 64% for the same period and sales increased 26.6% from the first quarter. Cash flow from operations amounted to $3.23 million 4 cents a share, up 278% from $0.86 million, or 1 cent a share in the first quarter of 2005.

Global Entertainment, an integrated event and entertainment company, reported revenue for fiscal year ended May 31, 2005, increased 157% compared with fiscal 2004. Income from operations was $902,253 for fiscal 2005, up 7% vs. $843,760 for the fiscal 2004. Net income for the quarter was 8 cents per share compared to net income of 20 cents per share for the period of the fiscal year-ago. The decrease in net income was due to tax expense in fiscal year 2005 that was not part of fiscal year 2004 when loss carryforwards were available.

Kana Software, software solutions provider, announced its net loss for 2004 was 75 cents a share on revenue of $48.9 million. The company revised its 4Q 2004 revenue to $13.6 million, vs. the $13.5 million as previously said. Kana Software announced last week, after closing bell, that it has filed its Form 10-k for fiscal year 2004 with the Securities and Exchange Commission.

Pizza Inn, restaurants operator, posted a 4Q net loss of a penny a share, down vs. a profit of 6 cents a share in the year-ago period on revenue decline, with same-store sales for the current quarter down 1.5%.

BabyUniverse, online retailer of brand name baby, toddler, and maternity products, posted that 2Q net loss was 11 cents per share, down from a net loss of 3 cents per share in the year-ago period despite stunning 91% sales growth for the current quarter.