Shares of OmniVision Technologies ( OVTI) were among technology's winners Friday, surging 19% after the maker of semiconductor image sensors posted second-quarter results that easily outpaced Wall Street forecasts and said that third-quarter results would be well above current expectations. For the second quarter ended Oct. 31, the company earned $22.6 million, or 41 cents a share, on sales of $126.8 million. Analysts surveyed by Thomson First Call expected earnings of 31 cents a share on sales of $113.7 million. OmniVision earned $17.8 million, or 28 cents a share, on sales of $84.4 million during last year's second quarter. OmniVision said strong demand from mobile handset manufacturers fueled second-quarter sales. The company sees third-quarter earnings of 42 cents to 47 cents a share on sales of $130 million to $140 million. Analysts had forecast earnings of 33 cents a share and sales of $117.9 million. Shares recently traded up $3.50 to $21.75. SeaChange International ( SEAC) jumped 12% after the digital video systems company reported a narrower-than-expected third-quarter loss. The company posted a loss of $2.1 million, or 7 cents a share, on sales of $35.3 million. Analysts expected a loss of 13 cents a share on sales of $30.3 million. SeaChange earned $5.5 million, or 19 cents a share, on sales of $42.6 million a year ago. Shares were trading up 90 cents to $8.70. Shares of Cognos ( COGN) traded heavily after the software company warned that third-quarter results would be below expectations. The company now sees earnings of 28 cents to 31 cents a share, below its September projection of 36 cents to 39 cents a share. The company cut its sales estimate to a range of $209 million to $212 million from $230 million to $237 million. Analysts forecast earnings of 38 cents a share on sales of $233.2 million. "I am extremely disappointed with our performance this quarter," the company said in a statement. "Our forecasting and execution against large sales opportunities were poor, and our management of the transition to our new BI platform, Cognos 8, proved challenging." Cognos will issue complete third-quarter results on Dec. 21. Despite the earnings warning, shares of Cognos were trading up 11 cents to $33.02. The shares traded on volume of more than 8 million shares, compared with the average daily volume of 1.6 million.
Peerless Systems ( PRLS) rose 9% after the imaging and networking technology company reported it swung to a third-quarter profit. The company earned $1 million, or 6 cents a share, on sales of $9.6 million. One analyst expected earnings of 2 cents a share and sales of $8.6 million. A year ago, the company reported a loss of $1.3 million, or 8 cents a share, on sales of $5 million. For the fourth quarter, Peerless Systems sees income of $1.8 million to $2 million, with sales of $9.8 million. The single analyst forecast calls for earnings of $1.6 million, or 9 cents a share, on sales of $9.4 million. Shares were trading up 69 cents to $8.14. Shares of Rackable Systems ( RACK) jumped 12% after the provider of servers and storage products announced a follow-on stock offering that priced at $19 a share. Of the 8 million shares sold, the company offered 2.6 million. The rest was sold by selling stockholders. Thomas Weisel Partners led the underwriting syndicate. Shares recently were up $2.34 to $21.97. Other technology movers included Sun Microsystems ( SUNW), up 8 cents to $3.97; JDSU ( JDSU), down 9 cents to $2.71; Intel ( INTC), up 21 cents to $27.39; Cisco ( CSCO), down 6 cents to $17.63; Apple Computer ( AAPL), up 26 cents to $71.86; Microsoft ( MSFT), up 7 cents to $27.96; Oracle ( ORCL), down 6 cents to $12.80; Novell ( NOVL), up 42 cents to $8.09; Sirius Satellite Radio ( SIRI), down 10 cents to $7.01; and Lucent Technologies ( LU), up 3 cents to $2.85.