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Today's Tech Winners and Losers

Shares of Shanda Interactive Entertainment (SNDA) were among technology's losers Tuesday, slumping 19% after the Chinese operator of online games posted weaker-than-expected fourth-quarter results.

The company reported a loss of $66.8 million, or 94 cents per American depository share, including an impairment charge of $64.6 million, or 90 cents a share. Without the charge, the company had a loss of 4 cents a share. Revenue, meanwhile, totaled $44.7 million.

Analysts polled by Thomson First Call expected a profit of 26 cents a share on revenue of $59 million. For the full year, the company earned $20.5 million, or 28 cents a share. Excluding the fourth-quarter charge, the company earned $85.1 million. Shares were trading down $3.17 to $13.75.

Bitstream (BITS) vaulted 32% after the font company posted big gains in fourth-quarter earnings and sales. The company earned $788,000, or 8 cents a share, on sales of $4.6 million. A year earlier, the company earned $40,000, or less than a penny a share, on sales of $3.3 million. "Strong sales during the fourth quarter across all of our product lines allowed us to achieve our highest quarterly and annual sales, and higher overall revenue growth rates since we went public in 1996," the company said. Shares recently were up $1.87 to $7.70.

Shares of Commonwealth Telephone (CTCO) fell 6% after the provider of telephone services posted lower-than-anticipated fourth-quarter earnings and projected 2006 earnings below Wall Street's expectation. The company posted earnings of $22.6 million, or 77 cents a share, on sales of $83.5 million. Results included several one-time items that added 15 cents to the bottom line. Analysts expected earnings of 65 cents a share and sales of $83.4 million. A year earlier, the company earned $17.9 million, or 67 cents a share, on sales of $83.6 million.

For the first quarter, Commonwealth Telephone anticipates earnings of 57 cents to 59 cents a share. Analysts project earnings of 65 cents a share. For all of 2006, the company sees earnings of $2.43 to $2.49 a share, with sales ranging from flat to down 1%. Wall Street expects earnings of $2.57 a share on sales of $330 million, or a 1% decline in sales. Shares were down $2.02 to $32.73.

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