Tuesday's Tech Winners & Losers
Shares of Intevac (IVAC) were among technology's winners Tuesday, jumping 11% after the company said it received orders for 11 of its disk-sputtering systems.
As a result of the orders, Intevac expects 2006 revenue to top expectations. "These tools are scheduled for delivery in the fourth quarter this year and first quarter next year," the company said. "With these orders, we have now booked enough systems to not only exceed the high end of our May 1 revenue guidance for 2006 but also provide an excellent start for 2007," the company said. Analysts polled by Thomson First Call project 2006 revenue of $197.3 million. Intevac shares were trading up $2.28 to $23.90.
Flir Systems (FLIR) soared 22% after Textron's (TXT) Bell Helicopter unit selected the thermal imaging company's airborne multi-sensor system for its armed reconnaissance helicopter program. The system, which will be used by the Army, incorporates an advanced thermal imager, a CCD-TV camera, a laser designator and a laser rangefinder. Financial terms of the deal were not disclosed. Flir shares were higher by $4.73 to $26.37.
Shares of Perficient (PRFT) rose 7% after the information technology consulting firm lifted its second-quarter revenue projection. The company expects to post revenue of $36.6 million to $37.7 million, up from an earlier view of $31 million to $32.8 million. Analysts project revenue of $32.8 million. "Organic growth continued to accelerate in Q2," the company said. "Utilization rates are high and we're adding billable resources to address our existing project backlog and pipeline." Shares were up 85 cents to $12.98.Lucent (LU) fell 4% after the telecom-equipment company warned that third-quarter results would be below Wall Street's forecast. For the period ended June 30, the company sees earnings of 2 cents a share on revenue of $2.04 billion. Analysts, meanwhile, project earnings of 4 cents a share and revenue of $2.34 billion. A year earlier, Lucent reported earnings of 7 cents a share on revenue of $2.34 billion. "During the third quarter, our North American mobility business was adversely impacted by a slowdown in spending on some of our current-generation wireless solutions," the company said. Lucent plans to report its third-quarter results on July 26. Shares were trading down 10 cents to $2.24.
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