@Road Plunges 38% on Shortfall

@Road ( ARDI) lost more than a third of its value Friday morning after posting soft second-quarter numbers.

Late Thursday, the Fremont, Calif., mobility solutions company posted a second-quarter profit of $3.1 million, or a nickel a share. That reverses the year-ago loss of $227,000, or less than a penny a share.

Revenue rose 16% from a year ago to $18.3 million. But the earnings and revenue figures were both a bit shy of the Wall Street consensus estimate, which called for a 6-cent profit on sales of $18.9 million.

"Despite the difficult environment for technology companies, we are pleased that we were profitable and also generated cash in the second quarter of 2004," said CEO Krish Panu. "Beginning in the third quarter of 2004, we will undertake several investment initiatives designed to generate additional growth for @Road in the future."

On Friday, the stock dropped $2.21 to $3.60.

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