Updated from 12:28 p.m.
Shares of Catalyst Semiconductor(CATS Quote) were among the worst-performing technology stocks Friday, falling 11.4% after the company posted second-quarter results that missed expectations by a wide margin.
The chipmaker posted a profit of $1 million, or 5 cents a share, on sales of $15.6 million. Analysts polled by Thomson First Call were expecting a profit of 11 cents a share on sales of $17.2 million. A year ago, the company posted earnings of $426,000, or 2 cents a share, on sales of $16 million. The company said that second-quarter results were hurt by weaker demand for its memory products and by pricing pressure. Catalyst said challenging market conditions could continue through the third quarter. Shares traded down 70 cents to $5.42. ...
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