Today's Tech Winners and Losers
Shares of Faro Technologies (FARO) were among technology's losers Friday, tumbling 28% after the company slashed its fourth-quarter earnings estimate.
The company, which makes computer-aided design products, now sees earnings of 3 cents to 5 cents a share, down significantly from its earlier view of 19 cents to 27 cents a share. Analysts surveyed by Thomson First Call expected earnings of 21 cents a share. The company expects to report sales of $34.6 million, in line with its previous view of $33 million to $35 million. Analysts are projecting sales of $33.9 million. The company blamed the earnings shortfall on increased SG&A expenses and a higher-than-expected tax rate. The income tax rate is now projected to be 25%, up from the company's earlier projection of 15% to 17%. Shares recently were trading down $5.81 to $14.89.
Supertex (SUPX) slumped 25% after the chipmaker posted third-quarter results that fell below expectations. The company earned $3.7 million, or 26 cents a share, on sales of $19.9 million. Analysts expected earnings of 35 cents a share and sales of $21.7 million for the December quarter. During the year-earlier period, the company earned $2.3 million, or 17 cents a share, on sales of $14.9 million. Shares were down $10.73 to $32.52.
Shares of MRO Software (MROI) jumped 10% after the software maker posted fiscal first-quarter earnings that topped forecasts and projected second-quarter earnings would be above Wall Street expectations. For the first quarter ended Dec. 31, the company earned $4.2 million, or 16 cents a share, on sales of $49.1 million. Analysts expected earnings of 14 cents a share and sales of $50.5 million. During the year-earlier period, the company earned $3.2 million, or 12 cents a share, on sales of $47.4 million.Looking ahead, MRO sees second-quarter earnings of 16 cents to 18 cents a share, topping analysts' forecast of 12 cents a share. Shares were trading up $1.39 to $15.24.
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