were among technology's losers Monday, dropping 19% after the wireless infrastructure company posted disappointing third-quarter sales and warned that fourth-quarter results would be below expectations.
The company earned $5.8 million, or 8 cents a share, on sales of $108.9 million. Analysts polled by Thomson First Call expected earnings of 8 cents a share and sales of $117.7 million. A year ago, the company reported a loss of $14.9 million, or 22 cents a share, on sales of $95.8 million.
For the fourth quarter, Wireless Facilities projects earnings of 5 cents to 6 cents a share and sales that are flat with the third-quarter sales of $108.9 million. Analysts predicted earnings of 10 cents a share and sales of $134.8 million. The company blamed the shortfall on issues in its Latin America operations and on delays and increased cost estimates in its domestic deployment business. The Latin America issues are expected to cut fourth-quarter sales by about $15 million from earlier forecasts. Shares were trading down $1.28 to $5.54.
soared 23% after the company agreed to be acquired by private equity firm Golden Gate Capital for $1 billion, or $11.10 a share, in cash. The price represents a 27% premium to Geac's Friday closing price of $8.77. The deal is expected to close during the first quarter of 2006. "The technology businesses we acquire are carefully selected based on their growth potential and ability to deliver vertically specific enterprise software offerings and deep market expertise to their customers," Golden Gate Capital said in a statement. "Golden Gate Capital views Geac as a natural addition to this successful strategy." Geac shares recently were up $1.99 to $10.76.
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climbed 19% after the company posted fourth-quarter results that beat forecasts and issued a better-than-expected first-quarter guidance. The company, a provider of assembly systems used by the electronics industry, earned $11 million, or 44 cents a share, on sales of $110.9 million. Analysts expected earnings of 39 cents a share on sales of $100.5 million. Year-earlier earnings were $9.1 million, or 37 cents a share, on sales of $71.6 million.