CPSL reported better than expected earnings of 10 cents per share, beating consensus estimates of 5 cents. Net income rose 231% to $4.6 million while revenue rose 61% to $18.7 during the quarter. [Source: http://www.forbes.com/markets/feeds/afx/2008/05/16/afx5019065.html]
CPSL sold 7.1 million shares to institutional investors at $6.75 a share. Prices fell 24% that day.