Shares of Sapient ( SAPE) were among technology's losers Friday, dropping 17% after the information technology company posted third-quarter results that fell short of expectations. The company earned $6.3 million, or 5 cents a share, on service revenue of $81.7 million, for the third quarter. Sapient reported adjusted earnings of $7.2 million, or 6 cents a share. Analysts surveyed by Thomson First Call were expecting earnings of 7 cents a share on sales of $82 million. Gross revenue, which includes reimbursable expenses, came in at $84.5 million. For last year's third quarter, the company reported adjusted earnings of $8.3 million, or 6 cents a share, on sales of $64.2 million. Gross revenue during the year-ago period was $67.4 million. "Our financial results for the third quarter confirm the strong fundamentals of our business," Sapient said. "Our profitability was solid; however, we continue to believe that our performance can be improved." Shares were trading down $1.02 to $5.16. Shares of JDS Uniphase ( JDSU) rose 8% after the company said first-quarter sales would be above the midpoint of its previous guidance. In September, the optical networking company predicted sales of $250 million, plus or minus $10 million, for the first quarter ended Sept. 30. Analysts project sales of $249.9 million. JDS Uniphase shares recently were up 15 cents to $2.07. SafeNet ( SFNT) fell 9% after the company posted third-quarter results that were well below expectations. The company, which makes network security products, earned $1.1 million, or 4 cents a share, on sales of $63.4 million for the third quarter. Excluding items, the company would have earned $6.5 million, or 25 cents a share. Analysts expected earnings of 38 cents a share and sales of $65.5 million. For last year's period, SafeNet reported adjusted earnings of $9.6 million, or 39 cents a share, on sales of $59.5 million.