Updated from 2:13 p.m. EDT

Shares of American Superconductor ( AMSC) were among technology's losers Thursday, falling 5.3% after the company posted fourth-quarter sales that fell well below expectations.

The maker of electronic converters posted a loss of $8.2 million, or 28 cents a share, on sales of $12.9 million. Results included a $2.7 million litigation charge. Analysts polled by Thomson First Call were expecting a loss of 19 cents a share on sales of $14.5 million. A year ago, the company reported a loss of $4.5 million, or 16 cents a share, on sales of $11.6 million. Looking ahead, American Superconductor forecast a fiscal 2006 loss of $18 million to $23 million, or 55 cents to 70 cents a share, on sales of $55 million to $65 million. Analysts are expecting a loss of 59 cents a share on sales of $57.3 million. Shares traded down 52 cents to $9.36.

Giga-tronics ( GIGA) rose 13% after the company swung to a fourth-quarter profit and posted a 60% jump in sales. The maker of microwave components posted earnings of $203,000, or 4 cents a share, on sales of $5.3 million. A year ago, the company reported a loss of $1.7 million, or 36 cents a share, on sales of $3.3 million. Orders from continuing operations rose 133% over last year and the company's book-to-bill ratio rose to 2.31 from 1.58 a year ago. Shares traded up 51 cents to $4.42.

Shares of Global Sources ( GSOL) fell 34.9% after the business-to-business media company posted a year-over-year decline in first-quarter earnings and sales. The company earned $2 million, or 6 cents a share, on sales of $22.8 million. A year ago, the company earned $2.6 million, or 8 cents a share, on sales of $23.7 million. Revenue from China accounted for 46% of total sales compared with 44% a year ago. Looking ahead, Global Sources forecast second-quarter earnings of 7 cents to 9 cents a share on sales of $30 million to $31 million. For the entire year, the company expects earnings of between 20 cents and 25 cents a share on sales of $109 million to $111 million. Shares traded down $3.32 to $6.20.

Innodata Isogen ( INOD) fell 17.2% after the information management company posted a substantial decline in first-quarter earnings on an 8% sales drop. The company earned $299,000, or 1 cent a share, on sales of $11.2 million. A year ago, the company earned $2.1 million, or 8 cents a share, on sales of $12.2 million. Innodata blamed the weak year-over-year results on an unexpected early termination of a large project by an ongoing client, the completion of a large project by a different client and on delays in the start-up of a new project for yet another client. Looking ahead, Innodata said that second-quarter results would likely be lower than first-quarter results. Shares traded down 54 cents to $2.60.

Shares of Proxim ( PROX) fell 55% after the company warned that it would seek bankruptcy protection if it does not get acquired or obtain financing during the second quarter. In January, Proxim hired Bear Stearns to explore strategic alternatives for the company. Proxim said that Bear is in discussions with a potential third-party purchaser. Still, Proxim says it has an immediate need for additional financing. Without the financing -- or without an acquisition -- the company will be forced to declare bankruptcy.

The provider of wireless networking equipment also announced first-quarter results. The company posted a pro forma loss of $4.5 million, or 14 cents a share, on sales of $25.4 million. A year ago, the company reported a loss of $5.1 million, or 41 cents a share, on sales of $26.7 million. Shares traded down 44 cents to 36 cents.

Other technology movers included Intel ( INTC), up 7 cents to $24.84; Microsoft ( MSFT), up 9 cents to $25; Cisco Systems ( CSCO), up 15 cents to $18.70; Oracle ( ORCL), up 19 cents to $11.89; Lucent Technologies ( LU), down 3 cents to $2.81; and Apple Computer ( AAPL), down $1.48 to $34.13.