Shares of Cree ( CREE) fell in late trading Thursday after the semiconductor materials maker posted second-quarter net earnings of $17.7 million, or 23 cents a share, down from $27 million, or 35 cents a share, a year earlier. Earnings from continuing operations were $20.1 million, or 26 cents a share, matching analysts' mean estimate. Revenue rose to $105.6 million from $96.1 million a year earlier.

For the third quarter ending in March, Cree forecast earnings from continuing operations of 25 cents to 27 cents a share, including 3 cents in stock-compensation costs. The company targets revenue of $105 million to $110 million. According to Thomson First Call, analysts had projected earnings of 25 cents a share and revenue of $108.7 million. Cree shares fell $2.13, or 7.4%, to $26.50 after hours.

Molex ( MOLX) posted better-than-expected fiscal second-quarter earnings and raised its full-year profit. The electronic components company reported net income of $58 million, or 31 cents a share, up from $52.2 million, or 27 cents a share, a year ago. Excluding a restructuring charge, earnings were 34 cents a share, topping analysts' mean estimate by a nickel. Revenue increased 7% to $697.3 million.

Molex projected third-quarter revenue of $690 million to $710 million, above analysts' projection of $676.3 million. The company expects earnings per share will be 28 cents to 30 cents. Wall Street sees earnings of 30 cents a share. For the full year, Molex now sees earnings of $1.15 to $1.19 a share and revenue of $2.725 billion to $2.8 billion. The company previously forecast full-year earnings of $1.07 to $1.12 a share and revenue of $2.675 billion to $2.75 billion. Shares rose $1.31, or 4.7% to $28.80 in late trading.

Supertex ( SUPX) shares tumbled after the company's third-quarter results missed estimates. Supertex earned $3.7 million, or 26 cents a share, in the December quarter, up from $2.3 million, or 17 cents a share, a year earlier. Revenue rose to $19.9 million from $14.9 million a year ago. Analysts expected earnings of 35 cents a share on sales of $21.7 million. The chip company also said Richard Siegel quit as executive vice president and as a member of the board to pursue other opportunities. Shares dropped $12, or 28%, to $31.25 in late trading.

Shares of Hoku Scientific ( HOKU) surged 11% after the Hawaii-based membrane electrode assembly-maker reported that it swung to a fiscal third-quarter profit. The company posted income of 1 cent a share, reversing a year-earlier loss of 11 cents a share. Excluding certain items, earnings were 3 cents a share, above First Call's mean analyst estimate of 1 cent. Revenue rose to $1.7 million up from $75,000 a year earlier. Shares of Hoku Scientific rose $1.07 to $10.22 in after-hours trading.

Publishing company Hollinger International ( HLR) announced reorganization of its Sun-Times News Group, which includes the Chicago Sun-Times, Post Tribune, Daily Southtown and other publications. The reorganization will include cutting staff by about 10%, largely through a voluntary separation program. The company said the reorganization and other actions are expected to help operating income by $16 million to $20 million a year, with partial realization of these benefits beginning in 2006.

ManTech International ( MANT) rose in after-hours trading after the provider of security programs said it received a $200 million subcontract from the U.S. Air Force. ManTech said it will provide operations and maintenance services for radar systems, navigational aids and communications. Shares of ManTech were up $1.32, or 4.4%, to $31.60 cents, in late trading.