were among technology's losers Friday, falling 17% after the company posted second-quarter results that beat expectations but warned that third-quarter earnings would fall well short of Wall Street forecasts.
The data storage products company posted second-quarter earnings of $11.1 million, or 38 cents a share, on sales of $169.6 million. Excluding items, the company would have earned $13 million, or 45 cents a share. Analysts polled by Thomson First Call were expecting earnings of 39 cents a share on sales of $159.6 million. A year ago, the company earned $5.7 million, or 23 cents a share, on sales of $108.1 million.
Looking ahead, Xyratex forecast third-quarter pro forma earnings of 20 cents to 27 cents a share on sales of $155 million to $165 million. Analysts are expecting earnings of 40 cents a share on sales of $166.6 million. Shares were trading down $3.20 to $15.62.
rose 1% after the company said that it would cut another 63 jobs and said that second-quarter sales would come in at the high end of its guidance. The job cuts come on top of the 26 positions that PMC-Sierra previously said it would cut. In all, the 89 job cuts are expected to result in total costs of $7.4 million. The restructuring is expected to save the company about $10 million to $12 million a year.
In addition to the restructuring, the company said that it expects to report second-quarter sales that will be at or near the high end of its guidance of $70 million to $72 million. What's more, the company's book-to-bill ratio is expected to exceed 1.1 by the end of the quarter. Analysts are expecting sales of $71.4 million. Shares were trading up 14 cents to $9.68.
fell 1% after the chipmaker posted third-quarter results that fell short of expectations. The company reported a loss of $127.9 million, or 20 cents a share, on sales of $1.05 billion. Analysts were expecting a profit of 2 cents a share on sales of $1.18 billion. A year ago, the company earned $90.9 million, or 13 cents a share, on sales of $1.12 billion. Micron said a 30% drop in average selling prices for memory products hurt results in the most recent period. Shares were recently trading down 11 cents to $10.72.
fell 3% after the company said its independent auditor resigned. The company said that its audit committee would begin a search to replace Deloitte & Touche. Shares were trading down 26 cents to $7.59.
fell 5% after the company posted mixed third-quarter results and said that fourth-quarter sales would be below expectations. The contract electronic manufacturer reported a loss from continuing operations of $66.7 million, or 7 cents a share, on sales of $2.6 billion. Excluding items, the company would have earned $36.2 million, or 4 cents a share. Analysts were expecting earnings of 4 cents a share on sales of $2.71 billion.
A year ago, the company reported a loss from continuing operations of $65.1 million, or 8 cents a share, on sales of $3.03 billion. Looking ahead, Solectron forecast fourth-quarter pro forma earnings of 3 cents to 5 cents a share on sales of $2.4 billion to $2.6 billion. Analysts had been expecting earnings of 5 cents a share on sales of $2.74 billion. Shares were trading down 19 cents to $3.63.
Other technology movers included
, down 21 cents to $19.57;
, down 7 cents to $25.24;
, down 26 cents to $26.51;
Sirius Satellite Radio
, up 8 cents to $5.96;
, up 2 cents to $12.53;
, down 5 cents to $3.06;
, down 27 cents to $6.64;
, unchanged at $34.44; and
, down 24 cents to $16.67.