Thursday's Tech Winners & Losers
Shares of Ultratech (UTEK) were among technology's losers Thursday, sinking 17% after the chip-equipment maker said fourth-quarter results will be worse than expected.
The company now sees a loss of 25 cents to 30 cents a share, wider than its prior forecast for a loss of 10 cents to 15 cents a share. Ultratech projects a sequential revenue decline of 25% to 30%, while its earlier forecast called for a decline of 8% to 10%. Analysts polled by Thomson First Call project a loss of 12 cents a share and revenue of $30.7 million.
"The revenue shortfall is due primarily to delivery push-outs during the quarter reflecting the softer business conditions," Ultratech said. Shares were trading down $2.18 to $10.86.
Jabil Circuit (JBL) slid 10% after the electronics services provider warned that second-quarter revenue would be below forecasts. For the recently ended first quarter, Jabil reported revenue of $3.2 billion, up from $2.4 billion a year earlier and topping Wall Street's estimate of $3.17 billion. The company, which is still reviewing its historical stock-option practices, didn't release its bottom-line figures.Jabil forecast second-quarter revenue of $2.75 billion to $2.85 billion, below analysts' average forecast of $2.91 billion. Shares were down $2.63 to $23.93. Shares of Sonic Foundry (SOFO) tumbled 11% after the software company priced a secondary offering at a substantial discount to Wednesday's closing price of $5.04. The company sold 3 million shares at $3.75 a share, raising $11.25 million. Sonic plans to use proceeds from the offering for research and development, business development activities and other corporate needs. Shares recently changed hands at $4.48, down 56 cents.
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