Updated from 2:03 p.m. EDT
Nam Tai Electronics
were among technology's losers Tuesday, falling 11.2% after the maker of electronic components posted first-quarter earnings that fell below expectations and warned that second-quarter sales would be well below expectations.
The company earned $13.8 million, or 32 cents a share, on sales of $156.9 million. Results included a gain of $5.9 million and a charge of $130,000. Without the gain and charge, the company would have posted earnings of 19 cents a share, or 3 cents below Wall Street expectations. Analysts polled by Thomson First Call were expecting earnings of 22 cents a share on sales of $151.4 million.
Looking ahead, Nam Tai forecast second-quarter earnings of 28 cents to 32 cents a share on sales of $170 million to $180 million. Analysts had been expecting earnings of 29 cents a share on sales of $188 million. During last year's second quarter, the company earned 31 cents a share on sales of $147.7 million. Shares traded down $2.60 to $20.70.
fell 17.9% after the company posted disappointing first-quarter results and warned that second-quarter results would be below expectations. The supplier of printed circuit boards posted first-quarter earnings of $4.5 million, or 11 cents a share, on sales of $58.9 million. Analysts were expecting earnings of 13 cents a share on sales of $60.8 million. Start-up costs related to the expansion of the company's Chippewa Falls facility and costs related to Sarbanes-Oxley compliance hurt first-quarter earnings. Looking ahead, TTM forecast second-quarter earnings of 10 cents to 12 cents a share on sales of $58 million to $61 million. Analysts had been expecting earnings of 15 cents a share on sales of $63.6 million. Shares traded down $1.66 to $7.60.
rose 10.4% after the information technology consulting firm canceled a proposed secondary stock offering and announced $25 million in new bank financing. "Given current market conditions, we are not willing to proceed with the proposed stock offering," the company said. Instead, the company said that it received a $25 million financing commitment from Comerica Bank, which will be used for acquisitions and to refinance debt. Shares of Perficient traded up 63 cents to $6.71.
rose 11.7% after the chipmaker posted first-quarter earnings and sales above expectations and said that second-quarter sales would be above expectations as well. Excluding items, the company earned 6 cents a share on sales of $553.7 million. Analysts were expecting earnings of 4 cents a share on sales of $548.3 million. A year ago the company earned $36 million, or 20 cents a share, on sales of $640.9 million. Looking ahead, Vishay forecast second-quarter sales of $570 million to $590 million. Analysts had been expecting sales of $567.1 million. The company also said that previously implemented cost cutting and restructuring would help to further improve margins. Shares traded up $1.24 to $11.87.
rose 8.4% after the provider of telephone services posted first-quarter earnings that were better than expected. The company earned $15.9 million, or 67 cents a share, on sales of $83.5 million. Excluding items, the company would have earned 64 cents a share. Analysts were expecting earnings of 59 cents a share on sales of $83.1 million. Looking ahead, Commonwealth forecast second-quarter earnings of 73 cents to 75 cents a share, ahead of the 64 cents a share that analysts had been expecting. The company also said it plans to pay a special dividend of $13 a share and plans to pay an annual dividend of $2. The special dividend and first quarterly dividend will be paid on June 30 to shareholders of record as of June 15. Shares traded up $3.93 to $50.65.
Other technology movers included
, up 59 cents to $9.50;
, up 13 cents to $25.36;
, up 28 cents to $23.83;
, up 6 cents to $3.82;
, up 5 cents to $17.31;
Sirius Satellite Radio
, up 7 cents to $5.06;
, down 1 cent to $11.59; and
, up 6 cents to $2.50.