were among technology's winners Thursday, soaring 42% after the maker of network-routing equipment swung to a second-quarter profit and posted a big gain in revenue.
The company earned $7.9 million, or 58 cents a share, on revenue of $25.3 million. Excluding items, the company earned $8.5 million, or 62 cents a share. Analysts polled by Thomson First Call expected a loss of 17 cents a share. A year earlier, the company posted an adjusted loss of $4.1 million, or 32 cents a share, on revenue of $11.1 million.
"Due to a surge and acceleration in demand this quarter's revenue and bottom line results have far exceeded our expectations and resulted in the company turning cash flow positive," Avici said. "We expect to continue to see strong revenue and bottom line results in 2006, but caution that the business conditions driving this increased demand can change significantly." Shares were trading up $2.33 to $7.86.
surged 12% after the maker of computers and iPods posted stronger-than-expected third-quarter earnings. For the period ended July 1, the company earned $472 million, or 54 cents a share, on revenue of $4.37 billion. Analysts expected earnings of 44 cents a share on revenue of $4.4 billion. During the year-earlier period, the company earned $320 million, or 37 cents a share, on revenue of $3.52 billion.
For the fourth quarter, Apple expects earnings of 46 cents to 48 cents a share, with revenue of $4.5 billion to $4.6 billion. Analysts project earnings of 52 cents a share on revenue of $4.95 billion. Despite the weaker-than-expected fourth-quarter guidance, Apple shares were trading up $6.75 to $60.85.
tumbled 15% after the software company warned that first-quarter revenue would be flat to modestly lower. In early July, the company said that it would post fourth-quarter revenue of $90 million to $92 million when it releases its results on Aug. 3. Analysts project first-quarter revenue of $99.6 million. Openwave also postponed its annual analyst day until November. Shares were trading down $1.06 to $6.18.
Electronics for Imaging
fell 7% after the maker of printing software posted second-quarter results that fell below expectations and gave a weak guidance. The company earned $11.8 million, or 18 cents a share, on revenue of $137.3 million. Excluding items, the company earned $18.2 million, or 28 cents a share. Analysts expected earnings of 30 cents a share, before items, on revenue of $139.6 million. During the year-earlier period, the company posted adjusted earnings of $8 million, or 14 cents a share, on revenue of $99 million.
Looking ahead, Electronics for Imaging projects third-quarter adjusted earnings of 30 cents to 32 cents a share, below analysts' target of 34 cents. The company forecast revenue of $140 million to $143 million, compared with Wall Street's projection of $146.3 million. Shares were trading down $1.55 to $19.60.
jumped 11% after the maker of mice and other computer peripherals posted better-than-expected first-quarter results. For the period ended June 30, the company's earnings rose to $30.1 million, or 16 cents a share, from $22.4 million, or 12 cents a share, a year earlier. On an adjusted basis, the company earned $34.4 million, or 18 cents a share. Analysts expected earnings of 13 cents a share. Logitech's revenue rose to $393.3 million from $334.7 million, exceeding analysts' forecast of $385.6 million. Shares were trading up $1.90 to $19.85.
Other technology movers included
, down 92 cents to $17.57;
, up $1.90 to $21.15;
, up 62 cents to $25.82;
, down 42 cents to $22.98;
, down 21 cents to $17.79;
, down 53 cents to $25.40;
, up 4 cents to $2.09;
, up 6 cents to $15.13;
, down 77 cents to $35.96;
, up 15 cents to $14.29;
Sirius Satellite Radio
, down 8 cents to $4.05;
, up 3 cents to $4; and
, down 51 cents to $15.34.