Tech Stocks in Motion
,P/>Updated from 12:25 p.m.
Shares of SkillSoft (SKIL) were among technology's winners Thursday, rising 6% after the company posted first-quarter results that were better than expected.
The maker of Internet-based employee training courses earned $2.5 million, or 2 cents a share, on sales of $53.3 million. Results included restatement and restructuring charges of about $1 million, or 1 cent a share. The quarter also included a loss of 1 cent a share, which was related to company's SmartCertify asset sale. Analysts surveyed by Thomson First Call were expecting a profit of 1 cent a share on sales of $49.6 million.
Looking ahead, SkillSoft forecast second-quarter earnings of $1 million to $2 million, or 1 cent to 2 cents a share, on sales of $49 million to $51 million. Analysts are expecting earnings of 2 cents a share on sales of $47.9 million. Shares traded up 21 cents to $3.72.Intervoice (INTV) traded actively after the company cut its first-quarter sales outlook. The data solutions company now expects sales of $41 million to $44 million, down from previous guidance, given in April, of $45 million to $49 million. Analysts are expecting sales of $47.1 million. During last year's first quarter, the company posted sales of $41.9 million. "The reasons for our change in revenue expectations include unanticipated delays in the receipt of several significant orders and the completion of several high-value projects," the company said. Shares traded up 7 cents to $8.82. Shares of Storage Technology (STK) rose 16.4% after the company agreed to be acquired by Sun Microsystems (SUNW) for $4.1 billion in cash. The deal values Storage Tek at $37 a share, representing a premium of 18% over Wednesday's closing price of $31.23. The two companies posted combined sales of more than $13 billion over the past four quarters. The transaction, expected to close during the late summer or early fall of 2005, will be accretive to Sun's earnings in the first 12 months following the closing of the deal. Shares traded up $5.13 to $36.36 while shares of Sun Microsystems traded down 11 cents to $3.79.
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