were among technology's losers Tuesday, plunging 30% after the wireless telecom-systems company said it swung to an unexpected first-quarter loss and lowered its full-year revenue outlook.
The company posted a loss of $3.1 million, or 12 cents a share, on revenue of $10.6 million. Analysts expected a profit of 8 cents a share and revenue of $22.7 million. During the year-earlier period, the company earned $5.2 million, or 28 cents a share, on revenue of $24.2 million. "Our revenue performance and resulting net loss for the first quarter of 2006 was primarily the result of a supplier providing product to us which did not meet our specification, quantity and delivery schedule requirements," the company said. "We believe we have satisfactorily addressed this supply chain issue and have resumed delivering products to customers."
Looking ahead, EFJ now sees 2006 revenue of $105 million to $115 million, down from an earlier view of $120 million to $125 million. Analysts project revenue of $121.3 million. Shares were trading down $3.02 to $6.90.
Sirius Satellite Radio
(SIRI - Get Report)
rose 3% after the satellite-radio company reported a narrower-than-expected first-quarter loss and raised its subscriber outlook. The company posted a loss of $458.5 million, or 33 cents a share, on revenue of $126.7 million. Analysts expected a loss of 36 cents a share and revenue of $123.2 million. Last year, Sirius reported a loss of $193.6 million, or 15 cents a share, on revenue of $43.2 million.
Looking ahead, Sirius sees the number of subscribers climbing to over 6.2 million by the end of 2006, up from an earlier forecast of 6 million. The company expects revenue to exceed $600 million. Analysts project 2006 revenue of $618.1 million. Shares were trading up 15 cents to $4.77.
tumbled 25% after the information-technology company slashed its first-quarter service revenue and operating margin forecast. The company now sees service revenue of about $88 million, down from an earlier view of $95 million to $100 million. The company put its pro forma operating margin at 3%, down from an earlier forecast of 7% to 9%. "Approximately $4 million of work was performed for clients that the company was unable to record as revenue in the first quarter," Sapient said. What's more, a substantial amount of the costs related to the sales was recorded during the quarter. Analysts project revenue of $98.2 million. Sapient will report its full results on May 9. Shares were trading at $5.86, down $1.99.