Thursday's Tech Winners & Losers
Shares of Entegris (ENTG) were among technology's losers Thursday, slumping 14% after the company posted disappointing third-quarter results and warned that fourth-quarter results would be below expectations as well.
Entegris, which makes products for semiconductor companies, posted earnings of $17.8 million, or 13 cents a share, on revenue of $171.3 million. Excluding items, the company earned $21.9 million, or 16 cents a share. Analysts polled by Thomson First Call expected earnings of 17 cents a share on revenue of $177.5 million. During the year-earlier quarter, the company reported a loss of $18 million, or 16 cents a share, on revenue of $121.3 million.
Looking ahead, Entegris sees fourth-quarter adjusted earnings of 11 cents to 14 cents a share on revenue of $155 million to $163 million. Analysts project earnings of 17 cents a share on revenue of $178.9 million. Shares were trading down $1.48 to $9.31.
Alvarion (ALVR) rose 5% after the network-equipment maker swung to a third-quarter profit and posted in-line fourth-quarter guidance. The company reported a loss of $2 million, or 3 cents a share, on revenue of $54 million. Excluding items, the company reported a profit of $954,000, or 2 cents a share. Analysts expected break-even earnings on revenue of $52.3 million. During the year-earlier period, the company posted a loss of $5.5 million, or 9 cents a share, on revenue of $45 million.Looking ahead, Alvarion sees fourth-quarter adjusted earnings of 1 cent to 4 cents a share on revenue of $52 million to $56 million. Analysts project earnings of 2 cents a share on revenue of $55.6 million. Shares were trading up 38 cents to $7.76.
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