Updated from 12:45 p.m.

Shares of

InfoSpace

(INSP) - Get Report

were among technology's losers Wednesday, falling 27.3% after the maker of online search and entertainment products posted solid first-quarter results but warned that second-quarter earnings and sales would miss the mark.

Excluding items, the company earned $16.6 million, or 45 cents a share, on sales of $87 million. Analysts surveyed by Thomson First Call were expecting earnings of 37 cents a share on sales of $86 million. A year ago the company earned $5.4 million, or 15 cents a share, on sales of $48.1 million. Looking ahead, InfoSpace forecast second-quarter earnings of 36 cents to 39 cents a share on sales of $83 million to $85 million. Analysts had been expecting earnings of 42 cents a share on sales of $91.7 million. Shares traded down $12.29 to $32.70.

OSI Systems

(OSIS) - Get Report

fell 14.8% after the company said that it would post a loss during the third quarter. When the company posts results on May 4, it expects to post a loss of $2.8 million to $3.2 million, or 17 cents to 19 cents a share, on sales of $94 million. Analysts had been expecting a profit of 3 cents a share on sales of $94.1 million. OSI said its results were hurt by a $2.5 million bad debt reserve for an international cargo and vehicle inspection receivable and by higher-than-expected operating losses in its cargo and vehicle inspection product line. Shares traded down $2.51 to $14.46.

Shares of

Garmin

(GRMN) - Get Report

got squeezed after the company posted first-quarter sales that fell below expectations. Excluding a foreign currency loss of $11.1 million, the maker of navigation devices posted earnings of 51 cents a share on sales of $192.7 million. Analysts were expecting earnings of 51 cents a share on higher sales of $195.6 million. A year ago the company earned 37 cents a share on sales of $158.3 million. Looking ahead, the company reiterated its 2005 guidance, saying that it expects earnings of $2.30 to $2.38 a share on sales of $890 million to $915 million. The guidance is just below analysts' expectations of $2.39 a share in earnings on $916 million in sales. Shares traded down $1.30 to $42.23.

Novatel Wireless

(NVTL)

rose 3.6% after the company posted first-quarter earnings that beat expectations. Excluding items, the telecom gear company earned $3.7 million, or 12 cents a share, on sales of $32.3 million. Analysts were expecting earnings of 10 cents a share on sales of $33.3 million. A year ago the company earned $413,000, or 2 cents a share, on sales of $15.1 million. In the latest period, Novatel said that it increased its market share and started shipping in volume to wireless carriers Verizon Wireless and Vodafone. Looking ahead, Novatel said that it expects strong sequential sales growth during the second quarter and expects sales growth acceleration during the second half of the year. Shares traded up 34 cents to $9.84.

Shares of

Sirf Technology

( SIRF) rose 1.6% after the company posted first-quarter sales that topped forecasts. The maker of semiconductor and software products posted pro forma earnings of $3.3 million, or 6 cents a share, on sales of $27 million. Analysts were expecting earnings of 6 cents a share on sales of $26.1 million. A year ago the company earned $7.2 million, or 17 cents a share, on sales of $28.4 million. Shares traded up 18 cents to $11.50.

Other technology movers included

Sirius Satellite Radio

(SIRI) - Get Report

, down 20 cents to $4.67;

Cisco Systems

(CSCO) - Get Report

, down 3 cents to $17.25;

Intel

(INTC) - Get Report

, up 19 cents to $23.51;

Microsoft

(MSFT) - Get Report

, up 23 cents to $24.99;

Sun Microsystems

(SUNW) - Get Report

, up 6 cents to $3.54; and

Lucent Technologies

( LU), down 1 cent to $2.51.