Today's Tech Winners and Losers
Shares of Agilysys (AGYS) were among technology's winners Monday, climbing 17% after the computer products distributor posted better-than-expected fourth-quarter results.
For the quarter ended March 31, Agilysys earned $6 million, or 19 cents a share, on revenue of $394.7 million. Analysts polled by Thomson First Call expected earnings of 15 cents a share and revenue of $392.8 million. A year earlier, the company reported a loss of $2.3 million, or 8 cents a share, on revenue of $356.2 million.
Looking ahead, Agilysys sees fiscal 2007 earnings of $1.15 to $1.22 a share on revenue growth of 6% to 8%. Two analysts have an average projection for earnings of $1.19 a share and revenue of $1.83 billion, or top-line growth of 5%. Shares were trading up $2.38 to $16.40.
Shares of Atmel (ATML) jumped 7% after an investment firm said it is interested in buying the microchip maker. RDG Capital, which is an Atmel shareholder, said it sent a letter to Atmel expressing interest in buying the company for $5.50 a share in cash and preferred stock. RDG said the company responded by saying it wants to remain public. Still, RDG said it remains interested in buying the company. Such a deal would value Atmel at about $2.7 billion. Atmel shares recently were up 31 cents to $4.69.Transmeta (TMTA) rose 3% after the chipmaker said it has developed a microprocessor and reference system platform that is designed to support Microsoft's (MSFT) new "FlexGo" technology. "Microsoft's FlexGo technology combined with Transmeta's microprocessing chip technology offer an affordable means for personal computer usage and consumption through new business models such as pay-as-you-go computing," Transmeta said. Microsoft's FlexGo allows customers to get a full-featured Windows-based personal computer that can be accessed using prepaid cards or monthly subscription fees. Microsoft plans to launch the technology in Brazil, India, Mexico, Russia and China. Shares of Transmeta were up 5 cents to $1.54.
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