Tech Stocks in Motion

Updated from 1:15 p.m. EST

Shares of CellStar(CLST) were among technology's losers Tuesday, falling 15% after the company said it would delay filing its 10-K report with the Securities and Exchange Commission because of accounting issues in its Asia-Pacific region.

The accounting issues pertain to whether certain accounts receivable and sales were recorded properly. The company has initiated a review in the Asia-Pacific region and has sought independent counsel to advise the company. CellStar believes the issues are specific to the Asia-Pacific region and will not affect results from the company's North American and Latin American regions. Still, the company now believes that operating losses during 2004 will be "significantly greater" than the loss it reported during 2003. CellStar attributed the decline to recent losses from its Asia Pacific region. The company will report its full-year earnings and deliver its 10-K after the company has completed its review. Shares traded down 49 cents to $2.77.

SI International(SINT) fell 3.1% after the information technology company posted fourth-quarter earnings that topped expectations but warned that first-quarter earnings would be less than expected. The company earned $3 million, or 26 cents a share, on sales of $69.6 million during the fourth quarter. Analysts polled by Thomson First Call were expecting earnings of 25 cents a share on sales of $65.1 million. Looking ahead, SI International forecast first-quarter earnings of 25 cents to 27 cents a share on sales of $74 million to $77 million. Analysts had been expecting earnings of 30 cents a share on sales of $74.8 million. Shares traded down 81 cents to $25.

Shares of Cincinnati Bell(CBB) rose 6% after the company posted fourth-quarter results that beat expectations. Excluding items, the company earned $16 million, or 5 cents a share, on sales of $299.8 million. Analysts were expecting earnings of 4 cents a share on sales of $299.3 million. Looking ahead, Cincinnati Bell said that 2005 sales would fall by a low single-digit percentage compared with 2004 sales. During 2004, the company posted sales of $1.21 billion. Analysts are expecting 2005 sales of $1.19 billion, or a year-over-year decline of about 6%. Shares traded up 26 cents to $4.59.