Tech Stocks in Motion
Shares of WPCS International (WPCS) were among technology's losers Monday, falling 13% after the company swung to a fourth-quarter loss.
The wireless engineering services company reported a loss of $295,603, or 8 cents a share, on sales of $11.1 million. A year ago, the company earned $310,140, or 16 cents a share, on sales of $8.2 million. For all of fiscal 2005, the company reported a loss of $85,282, or 3 cents a share, on sales of $40.1 million. During fiscal 2004 the company reported a loss of $124,187, or 8 cents a share, on sales of $22.1 million. "Although our net loss improved over the prior fiscal year, management is not satisfied with these results. WPCS managed over 800 projects in FY2005 and if it were not for an increase in costs of $1.2 million in five specific projects we would have had a much better earnings year," the company said.
Looking ahead, WPCS International reaffirmed its fiscal 2006 earnings guidance of $2.4 million, or 58 cents a share, on sales of $48 million. Shares were trading down $1 to $6.48.
Nam Tai Electronics (NTE) rose 6% after the company posted second-quarter results that were better than expected. The maker of electronic components reported earnings of $6 million, or 14 cents a share, on sales of $185.3 million. Excluding items, however, the company would have earned $11.9 million, or 28 cents a share. Analysts polled by Thomson First Call were expecting earnings of 25 cents a share on sales of $179.1 million. Looking ahead, Nam Tai forecast third-quarter pro forma earnings of 24 cents to 27 cents a share on sales of $170 million to $180 million. Analysts are expecting earnings of 24 cents a share on sales of $174.6 million. Shares were trading up $1.47 to $25.17.Shares of CommScope (CTV) rose 14% after the cable maker reported second-quarter results that topped forecasts. The company earned $16.3 million, or 25 cents a share, on sales of $336.7 million. Excluding items, the company would have earned $17.3 million, or 27 cents a share. Analysts were expecting earnings of 18 cents a share on sales of $331.3 million. A year ago, the company earned $84.1 million, or $1.16 a share, on sales of $312.9 million. Excluding a gain, the company would have earned $8.1 million, or 11 cents a share a year ago. Looking ahead, CommScope forecast third-quarter sales of $335 million to $355 million. Analysts are expecting sales of $338.8 million. For the year, the company now expects sales of $1.3 billion to $1.35 billion, up from previous guidance of $1.2 billion to $1.3 billion. Analysts are expecting sales of $1.31 billion. Shares were trading up $2.38 to $19.27.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV