Shares of ADC Telecommunications ( ADCT) were among technology's losers Wednesday, falling 17% after the telecom-equipment maker cut its fourth-quarter earnings and sales estimates.

The company now expects earnings of 15 cents to 19 cents a share on sales of $290 million to $300 million. Previously, the company predicted it would earn 24 cents to 28 cents a share on sales of $315 million to $325 million. Analysts polled by Thomson First Call had been expecting earnings of 28 cents a share on sales of $321.3 million. ADC blamed the shortfall on weaker-than-expected demand for its fiber optic equipment. Shares recently traded down $3.92 to $18.75.

MIPS Technologies ( MIPS) plunged 13% after the chipmaker warned that fiscal first-quarter sales would fall below expectations. The company expects sales of $11.8 million to $12 million, missing analysts' projection of $14.7 million. "Although royalty revenues were better than expected, it was not enough to offset a disappointing contract revenue shortfall," the company said. MIPS will post first-quarter results on Oct. 20. Shares recently were down 85 cents to $5.75.

Shares of Nanometrics ( NANO) fell 7% after the semiconductor-equipment company cut its third-quarter sales projection. The company now expects sales of about $14 million, down from its previous guidance of $15 million to $16.9 million. Analysts had been expecting sales of $15.7 million. "While we are disappointed not to achieve our stated revenue goals for the third quarter, we are encouraged when we analyze the causes of the shortfall and the prospects for the upcoming fourth quarter," the company said in a statement. The sales shortfall marks the second quarter in a row that Nanometrics has disappointed Wall Street; in July, the company warned of weak second-quarter sales.

Looking ahead, Nanometrics said it expects to have sequentially higher revenue in the fiscal fourth quarter. The company said it would give more specific guidance for the fourth quarter when it reports third-quarter results on Oct. 27. Shares were down 80 cents to $10.82.

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