Updated from 1:45 p.m. EDT

Shares of Andrew Corp. ( ANDW) were among the worst-performing technology stocks Monday after the company reported strong third-quarter results but warned that fourth-quarter results would fall short of expectations.

The telecommunications-equipment maker earned 14 cents a share during the second quarter on sales of $493 million. Analysts polled by Thomson First Call had expected it to earn 13 cents a share on sales of $468.5 million. Looking ahead, Andrew Corp. now expects fourth-quarter pro forma earnings of 10 cents to 13 cents a share on sales of $460 million to $490 million. Analysts had expected it to earn 16 cents a share on sales of $489 million. Shares of Andrew Corp. traded down $3.38, or 22.9%, to $11.39.

ManTech International ( MANT) rose after receiving a four-year contract to provide background investigations support to the U.S. Office of Personnel Management. ManTech will use its investigative infrastructure throughout the U.S., Puerto Rico and the Virgin Islands to assist the OPM in reducing the investigative backlog and the amount of time it takes to complete investigations. The potential value of the contract is $50 million to $100 million a year. Shares of ManTech International traded up $1.18, or 8.7%, to $14.82.

Shares of Agilysys ( AGYS) rose after the company swung to a first-quarter profit and raised its fiscal 2005 earnings guidance. The computer-systems distributor posted a first-quarter profit of 14 cents a share on sales of $386.7 million. Analysts had expected it to earn 12 cents a share on sales of $374 million. Looking ahead, it now expects full-year earnings of 83 cents to 93 cents a share on sales of $1.68 billion to $1.75 billion. Analysts are expecting earnings of 78 cents a share on sales of $1.64 billion. Shares of Agilysys traded up $2.39, or 22.2%, to $13.14.

Cognizant Technology Solutions ( CTSH) rose after it reported strong second-quarter earnings results and raised its third-quarter earnings guidance. The information technology services company earned 17 cents a share on sales of $138.7 million. Analysts had expected it to earn 15 cents a share on sales of $129.8 million. Looking ahead, it now expects to earn 17 cents a share during the third quarter on sales of at least $150 million. Analysts are looking for it to earn 16 cents a share on sales of $140.9 million. Shares of Cognizant Technology Solutions traded up $2.96, or 13%, to $25.82.

Shares of Anadigics ( ANAD) rose after the company reported better-than-expected second-quarter financial results and issued better-than-expected third-quarter earnings guidance. Excluding items, the wireless communications company posted a loss of 33 cents a share during the second quarter on sales of $22.7 million. Analysts had expected it to post a loss of 37 cents a share on sales of $22.6 million. Looking ahead, it forecast a third-quarter loss of 28 cents to 29 cents a share on sales of $24.1 million to $25.4 million. Analysts were looking for a loss of 30 cents a share on sales of $25.2 million. Shares of Anadigics traded up 17 cents, or 4.2%, to $4.18.

Other technology volume leaders included Intel ( INTC), up 30 cents to $22.97; Microsoft ( MSFT), up 63 cents to $28.66; Cisco ( CSCO), down 39 cents to $20.54; Oracle ( ORCL), down 2 cents to $10.08; and Lucent ( LU), down 10 cents to $3.15.