Small-cap stocks plunged in tandem with the major indices Wednesday, and some of the worst losers came out of the tech sector.
Among these was Edgewater Technology (EDGW - Get Report), which plummeted 15.8% after the purveyor of information-technology services made just $914,000, or 7 cents a share, in the third quarter. The analyst who follows the company was looking for earnings to stay flat with last year's 9 cents a share, according to Thomson Financial. Shares of the Massachusetts firm were off $1.49 to $7.93.
Epicor Software (EPIC), of Irvine, Calif., lost 7.3% to $12 after missing third-quarter estimates by a penny a share with non-GAAP income of $12.7 million, or 22 cents a share. Revenue, at $103.1 million, came in below the $107.6 million consensus.
A few small-cap chipmakers were also on the decline, among them New Jersey's Anadigics (ANAD - Get Report), and California-based Supertex (SUPX), each of which came in under Wall Street's earnings expectations for the most recent quarter. Anadigics tumbled 20.4% to $15.40; Supertex slid 13.9% to $36.84.And AMIS (AMIS), parent to AMI Semiconductor, was off 13.9% after delaying its earnings release due to an internal review of its February 2007 standard cost valuation of inventories and related issues. The Idaho-based company plans to release those financials during the week of Nov. 5 and to turn in its regulatory filing on time, but it said there's a chance this could change.