Tech Stocks in Motion

Shares of Packeteer(PKTR Quote) were among technology's losers Friday, sliding 37% after the networking technology company posted third-quarter results that fell well short of Wall Street expectations.

The company earned $2.3 million, or 6 cents a share, on sales of $24.8 million. Excluding items, Packeteer would have earned $2.8 million, or 10 cents a share. Analysts surveyed by Thomson First Call were expecting earnings of 14 cents a share on sales of $29.9 million. A year ago, the company earned $3.4 million, or 10 cents a share, on sales of $23.1 million. "We are extremely disappointed with our performance in the third quarter," the company said. "Each region failed to meet the company's revenue expectations. We expect that our fourth-quarter net revenues will recover and approximate our earlier estimate for the third quarter." Shares recently dropped $4.32 to $7.28.

Ixia(XXIA Quote) fell 27% after the company posted third-quarter results that fell short of forecasts. The provider of IP network-testing systems earned $9.1 million, or 13 cents a share, on sales of $42.1 million. Excluding items, the company posted adjusted earnings of $9.8 million, or 14 cents a share. Analysts were expecting earnings of 15 cents a share on sales of $42.7 million. A year ago, the company posted adjusted earnings of $5.5 million, or 9 cents a share, on sales of $30 million. Shares were trading down $3.73 to $10.17.

Shares of Micro Linear(MLIN Quote) fell 46% after the chip company posted big declines in third-quarter earnings and sales. The company reported a loss of $1.8 million, or 14 cents a share, on sales of $3.7 million. A year ago, the company reported a profit of $600,000, or 4 cents a share, on sales of $5.9 million. Last year's results included a $1.1 million gain related to the sale of its San Jose, Calif., buildings. "Lower sales of digital cordless telephone transceiver chips and networking products accounted for most of the decrease in revenue from the prior quarter and the comparable third quarter of 2004," the company said. Gross margin, meanwhile, dropped to 57% during the most recent period from 58% a year ago. Shares were trading down $1.61 to $1.89.