Tech Stocks in Motion
Updated from 1:12 p.m.
Shares of Conolog (CNLG) were among the best-performing technology stocks Friday, rising 22.3% after the company rolled out its new digital signal transceiver and announced that its PDR2000 protection system was selected by a Canadian utility.
The maker of digital signal processing equipment said the new transceiver would be used to expand the PDR2000 system. "Being selected by a major Canadian utility will have a positive impact" on our marketing efforts to other utilities, the company said. The company predicted that total sales could exceed $10 million over the next seven years. Shares traded up $1.07 to $5.87.
Electro Scientific Industries (ESIO) fell 21.9% after it posted first-quarter results that fell short of expectations. The semiconductor-equipment manufacturer posted a first-quarter profit of 36 cents a share on sales of $72.6 million. Analysts polled by Thomson First Call were expecting earnings of 46 cents a share on sales of $85.6 million. Looking ahead, the company forecast second-quarter sales of $60 million to $70 million. Analysts had been expecting sales of $86.8 million. Shares traded down $4.93 to $17.58.Shares of PalmSource (PSRC) fell 17.8% after the company posted solid first-quarter financial results but warned that second-quarter sales would fall short of expectations. Excluding items, the software maker earned 5 cents a share on sales of $18.2 million. Analysts were expecting a loss of 2 cents a share on sales of $17.9 million. Looking ahead, the company said that it expects earnings of up to 13 cents a share on sales of $17.1 million to $18.9 million. Analysts had expected second-quarter earnings of 5 cents a share on sales of $19.1 million. Shares traded down $4.47 to $20.59. InterVoice (INTV) rose 8.8% after the company posted second-quarter earnings that beat expectations. The speech technology company earned 13 cents a share on sales of $44.3 million. Analysts were expecting earnings of 10 cents a share on sales of $44.5 million. Looking ahead, InterVoice forecast third-quarter sales of $44 million to $48 million. Analysts had been expecting sales of $46 million. Shares traded up 85 cents to $10.55.
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