Shares of International DisplayWorks ( IDWK) were among technology's winners Tuesday, climbing 16% after the maker of liquid crystal display products posted better-than-expected first-quarter results. The company earned $1.4 million, or 4 cents a share, on sales of $23.5 million. Excluding items, the company earned $785,000, or 2 cents a share. Analysts polled by Thomson First Call expected earnings of 1 cent a share on sales of $22.5 million. During the year-earlier quarter, the company earned $1 million, or 3 cents a share, on sales of $18.1 million. Looking ahead, International DisplayWorks sees second-quarter sales of $24 million to $30 million. Analysts project second-quarter earnings of 4 cents a share and sales of $30.1 million. The company also announced the hiring of Joe Bedewi as chief financial officer. Bedewi, who previously served as financial controller at Intel ( INTC), replaces Jeff Winzeler, who moved to the role of chief operating officer in December. Shares were trading up 96 cents to $6.83. Despite posting better-than-expected fourth-quarter results, Sonus Networks ( SONS) saw its shares drop 8%. The maker of advanced phone switches earned $5 million, or 2 cents a share, on revenue of $57.3 million. Analysts expected earnings of 1 cent a share and revenue of $50.1 million. A year earlier, the company earned $6.3 million, or 2 cents a share, on revenue of $45.1 million. "2005 was a strong year for Sonus, culminating with robust revenue, order, and shipments growth in the fourth quarter," the company said. Shares, which have climbed about 33% since the beginning of the year, recently were down 45 cents to $4.97. Shares of Western Digital ( WDC) rose modestly after the hard-drive maker reiterated its third-quarter earnings and sales guidance. The company continues to expect earnings of 36 cents to 40 cents a share for the quarter ending March 31, bracketing analysts' mean estimate of 38 cents. The company predicts sales of $1.03 billion to $1.08 billion, while Wall Street anticipates sales of $1.06 billion. Gross margin is still expected to be about 19%. "The company's non-desktop business and associated new product momentum continues, helping to partially offset the March quarter seasonal patterns," the company said in a regulatory filing with the Securities and Exchange Commission. Shares were trading up 8 cents to $19.11.
Shares of SMTC ( SMTX) jumped 30% after the electronics manufacturer reported that it swung to a fourth-quarter profit. The company earned $1.4 million, or 10 cents a share, on sales of $58.1 million. Results included a one-time tax benefit of $600,000, or 4 cents a share. During the year-earlier quarter, the company recorded a loss of $3.2 million, or 22 cents a share, on sales of $48 million. The year-earlier results included charges totaling $1.1 million, or 8 cents a share. Shares were up 62 cents to $2.65. Mercury Computer ( MRCY) fell slightly after the image-processing systems company said it plans to cut about 8% of its workforce. The job cuts will affect about 80 positions and is expected to save the company more than $7 million a year. "The temporary softness in our defense business caused by shifting priorities with the DoD, and the transition to our 3D strategy adoption in the life sciences markets, necessitate these cost-cutting measures," the company said. Mercury expects to take a $2 million charge during its fiscal third quarter as a result of the job cuts. Shares recently traded at $16.13, down 2 cents. Other technology movers included Sirius Satellite Radio ( SIRI), down 16 cents to $4.44; Avanex ( AVNX), up 39 cents to $2.69; Intel ( INTC), up 2 cents to $19.75; Cisco Systems ( CSCO), up 22 cents to $21.08; Finisar ( FNSR), up 1 cent to $4.85; Advanced Micro Devices ( AMD), down 28 cents to $33.72; Comverse Technology ( CMVT), down $4.29 to $24.86; JDSU ( JDSU), up 3 cents to $3.74; Lucent Technologies ( LU), up 4 cents to $2.87; Sun Microsystems ( SUNW), up 9 cents to $4.63; Oracle ( ORCL), unchanged at $12.90; Microsoft ( MSFT), up 9 cents to $27.20; Apple Computer ( AAPL), up 54 cents to $66.22; and Applied Materials ( AMAT), up 30 cents to $18.23.