PathoGenesis

(PGNS)

warned it expects to post a first-quarter net loss of 30 cents a share, nowhere near the earnings of 20 cents expected by the six-analyst

First Call

consensus. The company, which made 6 cents in the year-ago period, blamed slower sales due to fluctuations in ordering patterns for its

TOBI

drug for managing pseudomonal lung infections in cystic fibrosis patients. The stock collapsed to as low as 11 3/4, a 2 1/2-year low, from a close of 34 3/4 in after-hours trading.

TheStreet.com

reported problems with the company in a

July 2 story.

Micron Electronics

(MUEI)

, after preannouncing it wouldn't meet analysts' second-quarter earnings estimates of 14 cents a share, reported net income of $6.5 million, or 7 cents a share, in line with the reduced 12-analyst consensus estimate.

"I'm not impressed with the number but everyone expected this result," said Amir Ahari, a senior analyst at researchers

International Data

. Revenue for the company's second quarter were $374 million, a 7% drop over the company's first quarter and well below revenue of $495 million reported a year ago.

TSC

reported on Micron's recent struggles

this morning.

--

Eric Moskowitz

In other postclose news (earnings estimates from First Call; earnings reported on a diluted basis unless otherwise specified):

Earnings/revenue reports and previews

Atlantic Coast Airlines Holdings

(ACAI)

warned it sees first-quarter earnings of 16 cents to 19 cents a share, including the effect of inclement weather, which reduced earnings by 3 cents to 5 cents. The company said it had more than 900 flight cancellations due to weather during the first 21 days of March -- traditionally the airline's strongest month for traffic. The five-analyst estimate called for 20 cents vs. the year-ago 16 cents.

Equifax

(EFX) - Get Report

said it sees first-quarter earnings coming in flat with the year-ago 31 cents a share but that earnings would improve by year-end after business disappointments in the company's European operations were sorted out. The 10-analyst view calls for 31 cents this quarter.

First American

(FAM) - Get Report

said it sees its first-quarter and full-year earnings missing the 11-analyst estimate of 71 cents a share and the 13-analyst estimate of $2.99 a share, respectively. The company cited unanticipated client attrition with resulting balance declines and higher expense levels in client service areas.

Innotrac

(INOC)

expects first-quarter revenue and earnings to come in better than estimated because of strong caller ID volume, resulting from heavy promotion over the last two months. The company sees earnings of 33 cents to 35 cents a share -- above both the two-analyst forecast for 26 cents and the year-ago 21 cents.

Omnipoint

(OMPT)

reported a fourth-quarter loss of $3.91 a share, including the effect of the company's use of a deposit account to pay distributions related to preferred stock. The 13-analyst view called for an operating loss of $3.29 vs. the year-ago loss of $2.17.

Premiere Technologies

(PTEK)

reported a fourth-quarter net loss of 64 cents a share, including restructuring and other charges. The seven-analyst prediction called for operating earnings of 3 cents vs. the year-ago profit of 23 cents.

In other earnings news:

Mergers, acquisitions and joint ventures

MediaOne

(UMG)

hired

Lehman Brothers

to evaluate strategic options for its international wireless businesses. Earlier today, MediaOne agreed to be acquired by

Comcast

(CMCSA) - Get Report

in a $60 billion stock deal.

Offerings and stock actions

Conoco

(COC)

filed a registration statement with the

Securities and Exchange Commission

detailing a plan to become independent from its parent

DuPont

(DD) - Get Report

.

Symantek

(SYMC) - Get Report

set a buyback program for up to $75 million in stock.

Miscellany

M&F Worldwide

(MFW)

named James Maher chairman, president and chief executive, succeeding Theo W. Folz, who resigned.

Telxon

(TLXN)

named John Paxton chairman, president and CEO.