Tech Stocks in Motion
Updated from 12:36 p.m. EST
Shares of FindWhat.com (FWHT) were among technology's losers Thursday, falling 18.6% after the Internet ad company posted mixed fourth-quarter results and warned that first-quarter earnings and sales would fall well below expectations.
Excluding items, the company posted adjusted earnings of 20 cents a share on sales of $58.7 million. Analysts polled by Thomson First Call were expecting earnings of 16 cents a share on sales of $63.1 million. A year ago, the company earned $3.5 million, or 15 cents a share, on sales of $21 million. Looking ahead, the company forecast adjusted first-quarter earnings of 12 cents to 15 cents a share on sales of $55 million to $59 million. Analysts had been expecting earnings of 20 cents a share on sales of $67 million. Shares traded down $2.50 to $10.95.
The9 Limited (NCTY) fell 15.9% after the China-based online game operator posted fourth-quarter results that disappointed investors. The company earned $945,000, or 4 cents a share, on sales of $1.02 million. The one-analyst estimate called for earnings of 6 cents a share. For the full year, the company earned $2.97 million, or 10 cents a share, on sales of $4.2 million. Shares traded down $3.49 to $18.41.Shares of Presstek (PRST) rose 13.1% after the digital-imaging company posted fourth-quarter earnings and sales that were better than expected. Excluding items, the company posted earnings of $2.5 million, or 7 cents a share, on sales of $54.1 million. The lone analyst estimate called for a loss of 6 cents a share on sales of $51 million. A year ago, the company earned $2 million, or 6 cents a share, on sales of $22.5 million. Shares traded up $1.03 to $8.88. GCI (GNCMA) fell 5.8% after the company posted fourth-quarter earnings that were below expectations. The telecom services company posted earnings of $2.3 million, or 4 cents a share, on sales of $105.5 million. Analysts were expecting earnings of 12 cents a share on sales of $104.3 million. A year ago, the company earned $3.7 million, or 6 cents a share, on sales of $103.8 million. Shares traded down 55 cents to $8.98.
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