Wednesday: More Technology Earnings Disappointments

Compiled by John J. Edwards III
Staff Reporter

An earnings disappointment in the technology sector leads Wednesday evening's post-close items of interest:

PairGain Technologies

(PAIR)

reported first-quarter earnings of 15 cents per share, missing the

First Call

consensus estimate by 2 cents. The results were better than the year-ago 9 cents, but nobody seems to care:

Reuters

reported that PairGain shares were getting slammed in after-hours trading.

Altera

(ALTR) - Get Report

surprised the Street in the other direction with first-quarter earnings of 35 cents per share, 2 cents ahead of both the First Call expectation and the year-earlier figure.

Quickturn

(QKTN)

reported a first-quarter loss of 8 cents per share excluding a one-time expense versus a restated 16-cent profit a year ago. First Call's estimate was a 1-cent loss for the most recent quarter.

VideoServer

(VSVR)

reported first-quarter earnings of 22 cents per share, up from the year-ago 15 cents and 2 cents better than First Call expected.

Search-engine company

Yahoo!

(YHOO)

, featured in Wednesday's

Market Roundup for its initiation at

Merrill Lynch

, is featured here with an upside earnings surprise: It earned 1 cent per share in the first quarter, compared with First Call's expectation of a 3-cent loss. Yahoo! had a break-even quarter a year earlier.

AK Steel

(AKS) - Get Report

earned $1.11 per share in the first quarter, down from the year-ago $1.20 but ahead of the First Call view, $1.09.