Updated from 12:46 p.m. EDT
outpaced all technology stocks Tuesday after the company reported fourth-quarter earnings that easily beat expectations and after it raised earnings and sales guidance.
Excluding one-time items, palmOne reported earnings of 32 cents a share on sales of $267.3 million. Analysts polled by Thomson First Call were expecting the company to report earnings of 13 cents a share on sales of $256 million. Looking ahead, the handheld-computer maker expects to earn 12 cents a share on sales of $250 million to $260 million during the first quarter.
Analysts had been expecting break-even earnings on sales of $231 million. For fiscal 2005, the company said it expects to earn $1.15 to $1.25 a share on sales of $1.21 billion to $1.29 billion. Analysts were expecting earnings of 72 cents a share on sales of $1.13 billion. Shares of PalmOne traded up $7.90, or 36.8%, to $29.36.
climbed after the company announced that its Digital Audio Corp. business unit received a security-related equipment order that will be used at the Summer Olympics. The company did not disclose financial terms but did say that while "this particular order is small, it does illustrate recognition of the utility of DAC's covert technologies in combating terrorism." Shares of Digital Recorders traded up 77 cents, or 12.9%, to $6.73.
slumped after the electronics-device maker slashed its third-quarter sales outlook and warned that earnings would fall below expectations.
Instead of reporting a profit during the third quarter, it now expects to report a loss of 10 to 12 cents a share. Sales, meanwhile, are now expected to be $35 million to $36 million vs. the $39 million to $43 million it had forecast previously. Analysts had expected earnings of 12 cents a share on sales of $40 million. Shares of Innovex traded down 55 cents, or 11.7%, to $4.17.
rose after the company announced that it signed a global frame deal with DaimlerChrysler Services, a division of
Additionally, NetSol also will provide fixed-rate, contractual professional and information technology services to DaimlerChrysler. "The contract could prove to be NetSol's most significant in size and dollar value," the company said. Shares of NetSol Technologies traded up 38 cents, or 17.7%, to $2.53.
rose after the computer-equipment maker announced that it purchased Manchester, England-based OpenPSL for about $36 million in cash and stock. OpenPSL is projected to generate about $209 million in sales during fiscal 2004. The acquisition is expected to be accretive to Bell's earnings during 2004. Shares of Bell Microproducts traded up 56 cents, or 8%, to $7.56.
Technology volume leaders included
, down 6 cents to $28.29;
, up 19 cents to $3.71;
up 38 cents to $3.58;
, down 3 cents to $11.12;
, up 35 cents to $23.22;
Sirius Satellite Radio
, unchanged at $3;
, up 5 cents to $4.59;
, up 85 cents to $23.85; and
, up 52 cents to $28.04.