Friday's Tech Winners & Losers
Shares of Dolby Laboratories (DLB) were among technology's winners Friday, vaulting 32% after the audio technology company's fourth-quarter results and fiscal 2007 guidance handily topped estimates.
For the period ended Sept. 29, the company earned $25.2 million, or 22 cents a share, on revenue of $102.1 million. Analysts polled by Thomson First Call expected earnings of 11 cents a share and revenue of $83.8 million. During the year-earlier quarter, the company earned $16.8 million, or 15 cents a share, on revenue of $78.9 million.
Looking ahead, Dolby forecast fiscal 2007 earnings of 83 cents to 92 cents a share, above analysts' target of 75 cents. The company predicts revenue of $420 million to $450 million, while Wall Street anticipates revenue of $405 million. Dolby shares were trading up $6.36 to $26.10.
Conexant (CNXT) rose 8% after the chipmaker said that it would supply chips for use in one of Motorola's (MOT) next-generation set-top platforms. Shares of Conexant were trading up 16 cents to $2.22. Motorola, which also announced the acquisition of wireless-messaging outfit Good Technology, was up 7 cents to $21.27.Shares of Applied Micro Circuits (AMCC) rose 3% after the chipmaker reported better-than-expected second-quarter revenue. The company's revenue for the September period rose to $76.4 million from $64.9 million a year ago. Analysts expected revenue of $75.7 million. Applied Micro only released its sales information because of a probe into stock option grants. The company said it will report its earnings as soon as practicable after its accounting audits are complete. The Nasdaq, meanwhile, granted an extension to Applied Micro until Dec. 21 to become current on its quarterly and annual filings. Shares were trading up 9 cents to $3.19.
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