Friday's Tech Winners & Losers
Viewpoint (VWPT) plunged 34% after the Internet marketing technology company lowered its 2006 revenue forecast. The company now sees full-year revenue of $17 million to $20 million, down from its prior guidance of $26 million to $30 million. Viewpoint blamed the shortfall on "softness in ad spending and customers' product delays."
For the third quarter, the company sees revenue of $3 million. One analyst projects revenue of $6.1 million. Viewpoint shares sank 27 cents to 75 cents.
Shares of CalAmp (CAMP) slumped 13% after the wireless-equipment provider posted weaker-than-expected second-quarter earnings and warned that third-quarter earnings fall below expectations. For the period ended Aug. 31, the company earned $1.2 million, or 5 cents a share, on revenue of $57.9 million. Analysts expected earnings of 7 cents a share on revenue of $56.3 million. During the year-earlier period, the company earned $3.7 million, or 16 cents a share, on revenue of $57.7 million.
Looking ahead, CalAmp sees third-quarter earnings of 4 cents to 8 cents a share on revenue of $59 million to $65 million. Analysts predict earnings of 11 cents a share on revenue of $61.4 million. Shares were trading down $1 to $6.94.Shares of LightPath Technologies (LPTH) zoomed 46% after the maker of optical products previewed strong first-quarter revenue growth. The company expects to post revenue of about $4.4 million for the September quarter, a 62% jump from a year earlier.
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