were among technology's winners Wednesday, climbing 18% after the chipmaker posted third-quarter results that beat Wall Street forecasts.
The company earned $11.5 million, or 15 cents a share, on sales of $60.9 million. Analysts surveyed by Thomson First Call expected earnings of 14 cents a share and sales of $60 million. A year earlier, Semtech earned $14.6 million, or 19 cents a share, on sales of $65 million. "The healthy growth in orders and fourth quarter beginning backlog reflect the strength of several product lines, most notably protection products, and better visibility from our customer base," the company said.
Semtech sees fourth-quarter earnings of 16 cents a share, including a 1-cent charge, with sequential sales growth of 4% to 6%. Analysts expect earnings of 16 cents a share on sales of $63.1 million, which translates to sequential sales growth of about 3.6%. Shares were trading up $3.08 to $19.78.
rose 4% after the chip company affirmed its fourth-quarter outlook. The company continues to expect sequential sales growth of 5%, and a gross margin increase of 200 to 300 basis points. Fairchild posted sales of $345.5 million during the third quarter, which would suggest sales of about $362.8 million for the fourth quarter. Analysts, on average, project sales of $362.3 million. "We've booked and scheduled enough demand within the quarter to approximately meet our guided revenues and are now working to take advantage of quick turn opportunities for potential upsides in December," the company said. Fairchild plans to release its fourth-quarter results on Jan. 19. Shares were up 67 cents to $17.17.
rose modestly after the company received an $18 million contract from
. The contract calls for DRS to produce infrared assemblies for Army combat vehicles. Product deliveries are expected to begin in December and continue through April 2007. DRS shares recently gained 34 cents to $49.53.
fell 1% after the company posted third-quarter results that were roughly in line with forecasts. The storage networking company reported a bottom-line loss of $7.5 million, or 5 cents a share. Excluding special items, but including a tax benefit of $1.4 million, the company earned $3.6 million, or 2 cents a share. Without the tax benefit, the company would have reported earnings that were in line with the penny a share that analysts expected. McData reported sales of $168.5 million, above analysts' forecast of $167.9 million. Shares were trading down 3 cents to $3.70.
climbed 13% after the company received a contract to provide its IdentityGuard identify theft product to the Swedish government. The identity authentication product will be used by nine of Sweden's largest public agencies and cover more than 500,000 users. Financial terms of the deal were not disclosed. Shares were trading up 58 cents to $5.01.
Other technology movers included
, up 12 cents to $17.63;
, down 4 cents to $26.74;
, down 3 cents to $2.80;
, unchanged at $2.84;
, up 31 cents to $40.50;
, up 7 cents to $27.75;
, up 6 cents to $2.41;
, up 1 cent to $3.90;
, unchanged at $12.73;
, down 32 cents to $67.78; and
Sirius Satellite Radio
, down 2 cents to $7.10.