Updated from 11:40 a.m. EDT
The tech sector fell slightly on Monday as earnings reports continued to pour into Wall Street. Nam Tai Electronics(NTE Quote) slumped 9.9% after the electronics-manufacturing services company posted first-quarter earnings that fell below Wall Street's forecast. The company earned $8.4 million, or 19 cents a share, on revenue of $191.6 million. Analysts polled by Thomson Financial expected earnings of 22 cents a share on revenue of $206.7 million. During the year-earlier quarter, the company earned $12.5 million, or 29 cents a share, on revenue of $208.4 million. Shares closed down $1.42 to $12.96. Elsewhere, Radcom(RDCM Quote) slid 8.9% after the company posted disappointing first-quarter results and slashed its full-year revenue guidance. The company posted an adjusted first-quarter loss of $2.8 million, or 17 cents a share, on revenue of $3.2 million. Revenue was below the $3.4 million that Radcom projected in early April. During the year-earlier quarter, the company earned $9,000, or less than a penny a share, on revenue of $5.1 million. "As we mentioned in our pre-release, we are disappointed with our first-quarter sales, which were well below our internal projections for the quarter," the company said. Looking ahead, Radcom now sees full-year revenue of $21 million to $23 million, well below its previous guidance of $28 million to $30 million. Shares closed down 14 cents to $1.44. Meanwhile, Datawatch(DWCH Quote) jumped 24.5% after the information management company posted a big gain in second-quarter earnings. For the period ended March 31, the company earned $424,000, or 7 cents a share, on revenue of $6.15 million. The lone analyst estimate cited by Thomson Financial called for earnings of 2 cents a share on revenue of $6.18 million. During the year-earlier quarter, the company earned $227,000, or 4 cents a share, on revenue of $5.39 million. Shares closed up 87 cents to $4.42.- Loading Comments...
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