Tech Stocks in Motion
Shares of Itron (ITRI) were among technology's winners Friday, rising 10% after the company said that second-quarter earnings and sales would be above forecasts.
The technology provider expects pro forma earnings of 38 cents to 42 cents a share on sales of $132 million to $135 million. Analysts polled by Thomson First Call are expecting earnings of 35 cents a share on sales of $128 million. The company said that strong new-order booking during the quarter led to the better-than-expected guidance. Itron expects second-quarter new-order booking of about $175 million. The company expects to post second-quarter results on July 26. Shares were trading up $4.55 to $50.73.
Traffix (TRFX) rose 12% after the company posted second-quarter results that impressed investors. The interactive media company earned $700,000, or 5 cents a share, on sales of $16.6 million. A year ago the company earned $665,000, or 4 cents a share, on sales of $9.1 million. Traffix said that its results were fueled by organic growth from its existing lines of business and by two acquisitions. Shares were trading up 64 cents to $6.16.
Shares of Euro Tech Holdings (CLWT) rose 39% after the Hong Kong-based company posted 2004 results that showed solid year-over-year growth. The company earned $594,000, up 12% from $531,000 during 2003. The company reported sales of $32.3 million vs. $27.4 a year ago. "The company has had a controlled expansion without substantial cash investment and without negative impact on the company's bottom line," the company said. Shares were trading up $1.41 to $5.05.Digi International (DGII) fell 18% after the company posted mixed third-quarter results and forecast a fourth-quarter sales shortfall. The network technology company posted earnings of $2.5 million, or 11 cents a share, on sales of $30.2 million. Analysts were expecting earnings of 9 cents a share on sales of $32 million. Looking ahead, Digi forecast fourth-quarter earnings of 12 cents to 17 cents a share on sales of $34 million to $37 million. Analysts are expecting earnings of 17 cents a share on sales of $37.7 million. Shares were recently trading down $2.38 to $10.86.
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