were among technology's losers Monday, falling 14% after the information-technology services company posted disappointing third-quarter results and lowered its full-year outlook.
PacificNet earned $611,000, or 5 cents a share. The company's guidance called for earnings of 6 cents to 9 cents a share. Sales were $10.7 million, below PacificNet's forecast of $11 million to $13 million. During last year's third quarter, the company earned $136,000, or 2 cents a share, on sales of $8.1 million.
PacificNet now sees 2005 earnings of 23 cents to 25 cents a share and sales of $41.6 million to $45 million. The company previously forecast earnings of 25 cents to 38 cents a share and sales of $45 million to $50 million. Shares recently were trading down $1.20 to $7.15.
jumped 17% after the storage-area networks company said it completed an internal review into its stock-option accounting. Brocade restated its financial results to account for stock-based compensation expenses during 2002 through 2004. The adjustments were in line with Brocade's projections and reduced reported earnings for the affected years by a total of 9 cents a share. None of the charges affected sales, cash positions, or non-stock-option related operating expenses, the company said. Brocade's audit committee also identified additional stock-based compensation expenses for fiscal years 1999 through 2001. Those charges reduced earnings by 11 cents a share.
Finally, the company filed amended annual financial results for the period ended Oct. 30, 2004, and amended its quarterly filing for the quarter that ended Jan. 29. What's more, the company submitted its quarterly financials for April 30 and July 30 of this year. As a result, the company said it is now in compliance with
filing requirements. Brocade said it expects that the "E" appended to its stock symbol to be removed as soon as Nasdaq completes its review of the company's filings. Shares were up 58 cents to $4.08.
soared 27% after the network equipment company agreed to be taken private by Tennenbaum Capital Partners and the Gores Group for $386 million in cash. The deal values Enterasys at $13.92 a share, representing a premium of 32% over Friday's closing price of $10.57. The transaction is expected to close during the first quarter of 2006. "The price reflects our success in repositioning Enterasys and returning it to a solid operational and financial position, as demonstrated by our strong Q3 results," Enterasys said in a statement. JPMorgan Securities served as Enterasys' financial adviser. Shares recently gained $2.85 to $13.42.
rose 6% after the maker of wireless tracking systems agreed to a pilot program with
. The retail giant will deploy I.D. Systems' industrial vehicle management system at one of its distribution centers in Texas. The system consists of wireless devices installed on powered industrial vehicles such as fork trucks and pallet movers, with a communication infrastructure and software for access control, utilization analysis and location tracking. "This deployment will serve as a pilot program for Wal-Mart to evaluate the benefits of the system on material handling vehicle operations, productivity, safety, and maintenance," ID Systems said. Shares were trading up $1.20 to $19.80.
jumped 19% after the software company posted big gains in second-quarter earnings and sales. The company earned $724,000, or 7 cents a share, for the quarter ended Sept. 30. Excluding certain items, Neon Systems earned $1.2 million, or 12 cents a share, compared with a year-ago loss of $399,000, or 4 cents a share, on a comparable basis. Sales, meanwhile, rose to $5.9 million from $3.8 million last year. "We are delighted to report such a strong quarter, although we still remain focused on our annual rather than quarterly performance," the company said. Shares rose 69 cents to $4.29.
Other technology movers included
, up 10 cents to $27.38;
, down 15 cents to $17.32;
, up 21 cents to $25.34;
, down 70 cents to $22.86;
Sirius Satellite Radio
, down 1 cent to $6.99;
, down 2 cents to $2.76;
, up 1 cent to $3.71;
, up 9 cents to $12.90; and
, down 2 cents to $2.27.