Tech Stocks in Motion
Shares of Intervoice (INTV) were among technology's losers Thursday, falling 10% after the company posted mixed second-quarter results and forecast third-quarter sales below Wall Street expectations.
The provider of data and voice solutions earned $4.6 million, or 12 cents a share, on sales of $43.3 million. Results were helped by a $1 million tax-expense adjustment. Analysts polled by Thomson First Call were expecting earnings of 9 cents a share on sales of $44 million. A year ago the company earned $5.1 million, or 13 cents a share, on sales of $44.3 million.
Looking ahead, Intervoice forecast third-quarter sales of $40 million to $45 million. Analysts had been expecting sales of $46.7 million. Shares were trading down 90 cents to $8.57.
Cognos (COGN) fell 3% after the company reported second-quarter earnings that beat expectations but forecast third-quarter earnings that would be below expectations. The software company reported second-quarter earnings of $28.7 million, or 31 cents a share, on sales of $212 million. Analysts were expecting earnings of 30 cents a share on sales of $212.7 million. A year ago the company earned $27.6 million, or 30 cents a share, on sales of $18.5.2 million.Looking ahead, Cognos forecast third-quarter earnings of 36 cents to 39 cents a share on sales of $230 million to $237 million. Analysts had been expecting earnings of 40 cents a share on sales of $235.4 million. Shares were trading down $1.27 to $37.75. Shares of Comtech Telecommunications (CMTL) rose 4% after the company posted fourth-quarter results that easily outpaced expectations. The telecom-equipment maker earned $11 million, or 42 cents a share, on sales of $98.3 million. Analysts were expecting earnings of 34 cents a share on sales of $83 million. A year ago the company earned $6.1 million, or 25 cents a share, on sales of $59.1 million. Shares were trading up $1.62 to $38.90.
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