Updated from 11:31 a.m. EDT
Shares of Merix(MERX) were among technology's losers Tuesday, sliding 6.4% after the maker of printed circuit boards posted disappointing fiscal third-quarter earnings and warned that fourth-quarter results would be below Wall Street's expectations. For the period ended Feb. 24, the company posted earnings from continuing operations of $1.8 million, or 9 cents a share, on revenue of $100.3 million. Analysts polled by Thomson First Call expected earnings of 13 cents a share on revenue of $101.6 million. During the year-earlier period, the company earned $712,000, or 4 cents a share, on revenue of $92.8 million. Looking ahead, Merix sees fourth-quarter earnings to be just about break-even on revenue of $93 million to $97 million. Analysts project earnings of 15 cents a share on revenue of $102.1 million. "Many of our North American markets have softened since the end of calendar [year] 2006," the company said. "We believe this softness is a normal cyclical slowdown that is periodically experienced in our industry." Shares closed down 54 cents to $7.86. Napster(NAPS) rose 3.6% after the online music service provider boosted its fourth-quarter revenue guidance. The company now sees revenue of more than $28 million. Previously, the company said that it would post revenue of more than $26 million. Analysts project revenue of $26.6 million. "Napster's No. 1 market share position in on-demand music subscription, together with our leadership position in wireless marketing partnerships -- including our recently announced partnership with AT&T(T) -- creates a very healthy foundation for the continuing development of our business," the company said. Shares closed up 15 cents to $4.30.- Loading Comments...
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