Tech Stocks in Motion
Updated from 1:07 p.m. EST
Shares of NovAtel (NGPS) were among technology's winners Thursday, rising 14% after the company posted a 37% jump in fourth-quarter sales.
Excluding items, the company earned $2.1 million, or 25 cents a share, on sales of $11.8 million. A year ago, the company posted earnings of $790,000, or 10 cents a share, on sales of $8.6 million. The company's results were aided by strong sales in its special applications category, which notched a year-over-year increase of 36%. Sales in the aerospace and defense category rose by 22%. Shares traded up $2.49 to $20.25.
Harris (HRS) fell 1% after the company issued fiscal 2006 earnings and sales guidance. The company expects to earn $3.25 to $3.35 a share on sales growth of 8% to 10%. Analysts polled by Thomson First Call are expecting earnings of $3.28 a share on sales of $3.31 billion. "While pressure remains on federal budgets, we believe our government communications systems segment will continue to outperform the market as investments in secure communications, networks, intelligence-gathering and information processing remain high priorities," the company said. Shares traded down 38 cents to $67.36.Shares of Analogic (ALOG) fell 4.9% after the company posted second-quarter results that disappointed investors. The maker of health and security imaging equipment posted a loss of $3.7 million, or 27 cents a share, on sales of $84.3 million. The one-analyst estimate called for a profit of 13 cents a share on sales of $99.7 million. "We are not pleased with the results for this quarter," the company said, but the company remains confident in the long-term growth of the company, it said. Shares traded down $2.10 to $41.15.
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