were among technology's losers Friday, tumbling 10% after the memory-chip maker posted lower-than-expected fourth-quarter results.
For the period ended Aug. 31, the company earned $63.5 million, or 8 cents a share, on revenue of $1.37 billion. Analysts polled by Thomson First Call expected earnings of 14 cents a share and revenue of $1.41 billion. In the year-earlier quarter, Micron earned $43.1 million, or 7 cents a share, on revenue of $1.26 billion. Shares were trading down $1.78 to $15.76.
( MOBE) sank 41% after the power adapter manufacturer lowered its third-quarter revenue guidance. Mobility expects total revenue for the third quarter to range between $24.1 million and $24.3 million. Analysts, on average, predict $26.9 million in revenue. The company also cautioned of the viability of its deals with
. Mobility shares were off $2.26 to $3.12.
( SLR) slid 6% after the contract electronic manufacturer posted better-than-expected third-quarter results but offered a soft fourth-quarter guidance. The company also laid out plans to cut its workforce by about 1,400 employees. For the quarter ended Aug. 31, the company posted adjusted earnings of $54.8 million, or 6 cents a share, on revenue of $2.9 billion. Analysts expected earnings of 5 cents a share on revenue of $2.71 billion. During the year-earlier quarter, the company earned $41.4 million, or 4 cents a share, on revenue of $2.4 billion.
Looking ahead, Solectron sees first-quarter earnings of 4 cents to 6 cents a share, with revenue of $2.6 billion to $2.8 billion. Analysts project earnings of 6 cents a share and revenue of $2.79 billion. As for the job cuts, the company said that the 1,400 jobs will be eliminated as part of a restructuring plan that will take place over the next 12 months. Solectron said the restructuring would result in charges of $50 million to $60 million. Shares were trading down 22 cents to $3.20.
Art Technology Group
( ARTG) fell 13% after the software company estimated third-quarter results below Wall Street's expectation. The company sees a loss of $1.3 million to $1.5 million, or 1 cent a share, on revenue of about $21.3 million. Analysts project a profit of 3 cents a share and revenue of $25.1 million.
"While our revenue this quarter came in below street expectations due to a delay in completing a number of license deals in the third quarter, we believe these deals will be recognized in the fourth quarter," Art Technology said. As a result, the company backed its full-year guidance. Shares were trading down 32 cents to $1.98.
( NMSS) sank 24% after the provider of telecom equipment cut its third-quarter earnings and revenue projections. The company expects to post an adjusted loss of 11 cents to 13 cents a share. The guidance includes a restructuring charge of 2 cents a share. Previously, the company predicted a loss of 7 cents to 8 cents a share. NMS cut its revenue forecast to $20 million to $21 million from an earlier view of $23 million to $24 million. The previous guidance didn't include a restructuring charge.
"We are disappointed with the financial results we expect to deliver for the third quarter," NMS said. "Revenue will fall short of our expectations, principally in our Platform Solutions Business unit, which experienced softness in demand from a broader perspective than was the case in the second quarter." Shares recently changed hands at $2.08, down 67 cents.
jumped 25% after the software company previewed better-than-expected third-quarter results. The company projects earnings of $6.3 million to $6.3 million, or 34 cents to 36 cents a share, including a $5 million tax credit. Analysts project earnings of 3 cents a share. Interactive Intelligence estimates revenue of $21 million to $22 million, compared with Wall Street's forecast of $18.9 million. The company said results were boosted by strong demand in its contract center automation software and enterprise IP communications system business. Shares were up $2.93 to $14.67.
Other technology movers included
Sirius Satellite Radio
, down 5 cents to $3.90;
, up 10 cents to $24;
( LU), down 7 cents to $2.29;
, down 19 cents to $20.59;
, up 29 cents to $18.37;
, up 14 cents to $18.40;
, down 9 cents to $27.83;
, down 5 cents to $4.97; and
Level 3 Communications
, down 9 cents to $5.07.