Updated from 11:23 a.m. EDT
were among technology's losers Monday, tumbling 20.7% after the maker of electronic scoreboards and video displays slashed its fourth quarter earnings and revenue guidance.
The company now sees earnings of 6 cents to 10 cents a share on revenue of $101 million to $105 million. Previously, the company forecast earnings of 12 cents to 19 cents a share on revenue of $106 million to $118 million. Analysts polled by Thomson First Call project earnings of 17 cents a share on revenue of $114 million. "Heading into the fourth quarter, we had anticipated that the order volume earlier in the quarter would be sufficient to achieve our estimated range of sales," the company said. "However, we were unable to book enough orders earlier in the quarter to generate the sales, which is causing this revision in the estimates." Shares closed down $5.78 to $22.13.
slid 8.5% after the chipmaker previewed disappointing second quarter revenue. The company sees second quarter revenue of $200 million, an 18.5% decline from its first quarter revenue of $245.5 million. On a core operating basis, the company expects to post break-even results. "During the second fiscal quarter, in addition to anticipated weakness in our PC-related products, we saw greater-than-expected sequential revenue declines in our set-top box, multifunction peripheral, and DSL product lines," the company said. Analysts project revenue of $222.8 million. Conexant plans to post full results on April 26. Shares closed down 14 cents to $1.51.
climbed 9.1% after the chipmaker boosted its first quarter revenue growth target. For the quarter ended March 31, the company now sees sequential revenue growth of 11% to 11.5%, up from an earlier prediction of 8% to 10%.
The company also announced the resignation of its chief financial officer. NetLogic said that Don Witmer is leaving the company for medical reasons. His departure is effective April 9. Shig Hamamatsu, NetLogic's controller, will assume the CFO position on an interim basis. The company is already looking for a full-time replacement. Shares closed up $2.40 to $28.75.
fell 6.8% after the maker of inventory tracking tools cut its first quarter revenue guidance. The company now sees revenue of $175 million to $178 million, down from an earlier view of $177 million to $197 million. Analysts project revenue of $188.6 million. Intermec blamed the revision on "growing sluggishness" in U.S. revenue and margin pressures. Shares closed down $1.55 to $21.27.
fell 7.3% after the chipmaker said that an internal investigation turned up accounting irregularities at a foreign subsidiary. The accounting irregularities include premature revenue recognition. "The investigation is continuing and additional information will be sought to enable the audit committee to determine the extent by which accounts receivable, revenues and possibly other entries in the financial statements may have been misstated in any given accounting period, including possibly periods preceding the year ended June 30, 2006," the company said. The closed down $2.83 to $35.97.
Other technology movers included
, up 52 cents to $20.10;
, which closed flat at $5.93 but was up 6 cents to $5.99 earlier in the day;
, up 14 cents to $26.20;
, down $1.03 to $93.65;
, which was down 16 cents to $28.39 earlier in the day but closed up 2 cents to $28.57; and
Level 3 Communications
, up 13 cents to $6.26.