Shares of SeaChange International ( SEAC) fell in late trading Tuesday after the digital video-systems maker's fourth-quarter results missed Wall Street's expectations. The company posted a loss of $2.9 million, or 10 cents a share, compared with a year-earlier loss of $2.2 million, or 8 cents a share. Revenue increased 11% to $33.2 million. Analysts polled by Thomson First Call had expected the company to post a loss of 6 cents a share and revenue of about $35 million. "We expect revenues to be significantly higher in fiscal '07, which will return the company to positive cash flow generation," said Bill Styslinger, president and CEO, in a statement. Shares sank 81 cents, or 9.8%, to $7.50 in after-hours trading. Union Pacific ( UNP) shares advanced after the railroad company raised its first-quarter earnings forecast. The company now expects earnings of $1 to $1.10 a share, up from the previous projection of 80 cents to 90 cents a share. Analysts were looking for earnings of 89 cents a share. Union Pacific attributed the higher guidance to stronger-than-anticipated commodity-revenue growth and margin improvement. The company lifted its full-year forecast to $4.80 to $5 a share from $4.60 to $4.80 to reflect the higher first-quarter projection. Shares gained $2.75, or 3.2%, to $87.96 in after-hours trading. Citi Trends ( CTRN) shares slipped even after the clothing retailer reported better-than-anticipated fourth-quarter earnings. The company's profit rose to $7.9 million, or 55 cents a share, from $4.9 million, or 45 cents a share a year ago. Excluding a stock-offering expense, the company's earnings totaled 57 cents a share. Revenue grew to $96.8 million from $66.3 million a year ago, as same-store sales jumped 22.8%. Analysts were looking for earnings of 56 cents a share and revenue of $95.2 million. For the current year, Citi Trends projects earnings of $1.25 to $1.29 a share, including about 5 cents in options expenses. Total sales and net income are expected to increase 20% to 25% for the year. Wall Street is looking for earnings of $1.29 a share and revenue of $357.8 million. Shares fell $1.48, or 3.6%, to $40.25 in after-hours trading.
Essex ( KEYW) shares declined after the company's revenue fell short of Wall Street's estimates, despite a big year-over-year jump. The maker of optoelectronic devices earned $3 million, or 13 cents a share, up sharply from $892,000, or 5 cents a share, a year earlier. The earnings matched analysts' average forecast. The company's revenue jumped to $50 million from $18 million, shy of analysts' estimate of $51 million. Shares were down $1.14, or 5.3%, to $20.25 after hours. Shares of OpenTV ( OPTV) climbed after the provider of services for interactive television got out of the red in the fourth quarter. The company reported income of $2.9 million, or 2 cents a share, reversing a year-earlier loss of $6.3 million, or 5 cents a share. Analysts were looking for the company to post a loss of 1 cent a share. The company's revenue slipped 4% to $23.2 million, but beat Wall Street's target of $21.8 million. OpenTV said it's not certain that it will be able to file its Form 10-K on time due to continuing evaluation of its internal controls. The company said it may file for an extension and extend the filing date to March 31. Shares gained 18 cents, or 7.1%, to $2.70 in after-hours trading. Wireless Facilities ( WFII) shares fell after the wireless infrastructure and antenna operator reported lower-than-expected fourth-quarter results. The company swung to an overall loss of $3.4 million, or 5 cents a share, compared with income of $12.3 million, or 16 cents a share a year earlier. Excluding discontinued operations, the company reported adjusted earnings of $1.6 million, or 2 cents a share, below analysts' target of 5 cents. Revenue rose to $94.8 million from $88.4 million a year ago, shy of Wall Street's forecast of $109.1 million. The company also said that it had to revise its previously reported second- and third-quarter results to reflect the impact of the cancellation of one of its customers in Mexico. In addition, Wireless Facilities said a California court has dismissed claims against the company and certain officers and directors in a consolidated shareholder class-action lawsuit. Shares fell 26 cents, or 5.4%, to $4.55 in after-hours trading.