Shares of Eclipsys (ECLP) were among technology's losers Thursday, tumbling 23% after the software company posted weaker-than-expected second-quarter sales and gave a full-year guidance below Wall Street's expectations.
Eclipsys reported second-quarter earnings of $1.1 million, or 2 cents a share. Excluding certain items, the company earned $5.8 million, or 11 cents a share, matching the Thomson First Call mean analyst estimate. Sales, though, totaled $102.3 million and fell short of analysts' target of $107 million. During the year-earlier period, the company reported an adjusted loss of $1.8 million, or 4 cents a share, on revenue of $95.9 million.
Eclipsys forecast full-year adjusted earnings of 52 cents to 58 cents a share and revenue of $422 million to $432 million. Analysts project earnings of 59 cents a share, with revenue of $435.4 million. Shares were trading down $4.50 to $15.12.
Cogent (COGT) plunged 24% after the fingerprint-identification technology company posted second-quarter results that missed expectations by a wide margin. The company earned $3.6 million, or 4 cents a share, on revenue of $13.2 million. Excluding stock-based compensation costs, the company earned $4.4 million, or 5 cents a share. Analysts expected earnings of 10 cents a share and revenue of $28 million. A year earlier, the company earned $14.4 million, or 16 cents a share, on revenue of $39.4 million. "Our lower second-quarter revenues reflect lumpiness in our business, the timing of revenue recognition of contracts and the delay of projects from key existing customers," the company said. Shares were down $3.29 to $10.41.Shares of LeapFrog Enterprises (LF) sank 20% after the maker of technology-based educational toys posted second-quarter results that were well-below forecasts. The company reported a loss of $25.7 million, or 41 cents a share, widened from $9.8 million, or 16 cents a share, a year earlier. Analysts projected a smaller loss of 25 cents a share. Revenue tumbled to $68.1 million from $87.1 million, missing Wall Street's target of $82.3 million. "The results speak for themselves -- LeapFrog is a company with fundamentals that need to be addressed," the company said. Shares were trading down $1.90 to $7.65.