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. ...
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