Shares of Applix(APLX Quote) were among technology's biggest losers Friday, tumbling 24% after the software company posted in-line fourth-quarter earnings but issued a 2006 guidance that disappointed investors.
For the fourth quarter, the company earned $2.5 million, or 15 cents a share, on sales of $11.1 million. Analysts polled by Thomson First Call expected earnings of 15 cents a share and sales of $11.6 million. During the year-earlier quarter, the company earned $3.1 million, or 20 cents a share, on sales of $9.4 million.
Looking ahead, Applix sees 2006 earnings of 17 cents to 27 cents a share, including about 12 cents a share in stock-based compensation costs. Analysts expect earnings of 47 cents a share. The company projects sales of $41 million to $44 million, bracketing analysts' average forecast of $43.6 million. Shares were trading down $2 to $6.37. ...
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