were among technology's losers Wednesday, falling 17% after the digital video systems company posted second-quarter results that missed Wall Street expectations by a wide margin.
The company reported a loss of $6.6 million, or 23 cents a share, on sales of $26.2 million. Analysts surveyed by Thomson First Call were expecting a profit of 1 cent a share on sales of $35.6 million. A year ago the company earned $3.3 million, or 12 cents a share, on sales of $43 million.
Looking ahead, SeaChange issued full-year guidance that disappointed investors. "Given the temporary slowdown in the on-demand market, we believe our revenues for the year will be less than our previously issued guidance of $160 million," the company said. Analysts had been expecting sales of $151.9 million. Shares were trading down $1.20 to $5.79.
rose 2% after the chipmaker appointed Robert Freeman as interim chief financial officer and chief accounting officer. Freeman is taking over the CFO position for Darrel Slack, who is on a leave of absence for personal reasons. Freeman is taking over the chief accounting position because Dale Brown is resigning, effective Aug. 31, to pursue other interests. Shares were trading up 21 cents to $9.30.
fell 2% after the company posted its first quarterly earnings report as a publicly traded company. The search engine company posted second-quarter pro forma earnings of $2.2 million on total sales of $8.4 million. Sales jumped 189% compared with a year ago and grew by 53% on a sequential basis. Looking ahead, Baidu.com expects sales of $9.6 million to $10 million, which would represent a jump of 139% to 151% jump over last year's third-quarter sales. Shares, which had traded as high as $85 during the morning to as low as $75, were recently trading down $2.02 to $79.98.
rose 17% after the electronic manufacturing services company posted a huge jump in fourth-quarter earnings. The company earned $2.8 million, or 28 cents a share, on sales of $53.2 million. Fourth-quarter earnings included one-time gains of about $1.3 million, or 13 cents a share. A year ago the company earned $265,000, or 3 cents a share, on sales of $44.4 million.
Looking ahead, Key Tronic forecast first-quarter earnings of 6 cents to 10 cents a share on sales of $42 million to $47 million. Shares were trading up 72 cents to $4.97.
rose 5% after the company said its Protection Plus Security Consultants subsidiary received multiple contract awards totaling over $4.8 million. The contracts, which call for security services to be performed for six customers, range from one to three years in length. What's more, the company expects to record sales of $1.2 million from the contracts during the current fiscal year, with some of the sales being recorded during the current quarter. Shares were trading up 13 cents to $2.92.
Other technology movers included
, up 17 cents to $3.15;
, up 25 cents to $27.12;
, up 25 cents to $25.97;
, down 3 cents to $17.73;
, up 2 cents to $3.61;
, down 4 cents to $13.06;
RF Micro Devices
, up 52 cents to $6.68;
, down 16 cents to $35.57;
, up $1.21 to $46.95; and
, down 21 cents to $20.32.