Shares of Tektronix ( TEK) were among technology's winners Friday, climbing 12% after the company reported better-than-expected third-quarter earnings and offered an in-line guidance. Tektronix, a maker of testing and measurement equipment for computer and chip companies, earned $26.5 million, or 32 cents a share, for the quarter ended Feb. 25. Excluding items, the company earned $31.1 million, or 37 cents a share. Analysts polled by Thomson First Call expected earnings of 33 cents a share, before items. The company's revenue totaled $262.1 million, slightly below Wall Street's estimate of $262.9 million. During the year-earlier period, the company earned $26.8 million, or 30 cents a share, on revenue of $256.3 million. Excluding items, the company earned $28.1 million, or 31 cents a share, last year. "This was an outstanding quarter for us," the company said. "A modestly improving market, strength in new products and continued success in the communication sector led to strong orders, sales, earnings and cash flow." For the fiscal fourth quarter, Tektronix expects earnings of 38 cents to 42 cents a share, before items, and revenue of $275 million to $285 million. Analysts project earnings of 40 cents a share, with revenue of $281.1 million. Tektronix shares were trading up $3.88 to $36.47. California Micro Devices ( CAMD) fell 3% after the company announced a better-than-expected fourth-quarter profit forecast, an acquisition and the departure of its chief financial officer. The company sees earnings of 7 cents to 8 cents a share for the quarter ending March 31. Analysts, on average, project earnings of 5 cents a share. California Micro predicts revenue of $16.5 million to $17.5 million, bracketing analysts' mean estimate of $16.8 million. The company also said it plans to buy Arques Technology, a maker of analog semiconductor devices, for $8 million plus subsequent earnout payments.
Separately, California Micro said Gregory Miller resigned as financial chief to accept another position elsewhere. The company named Kevin Berry, a consulting CFO, as its interim chief financial officer, effective immediately. Shares were trading down 23 cents to $6.95. Shares of Tekelec ( TKLC) slipped 6% after the telecom-equipment company delayed filing its annual report, which was due March 16, and said it also won't meet the 15-day extension deadline. The company said the consequences of a late filing include the potential acceleration of the redemption of $125 million in senior subordinated convertible notes due June 2008. "Based on 2005 orders and continuing interest in our products, we believe that our business fundamentals are solid," the company said. "Our liquidity is sound with cash and marketable securities totaling approximately $226 million on our balance sheet at Dec. 31, 2005." Shares were down 88 cents to $13.14. Shares of SBA Communications ( SBAC) jumped 12% after the operator of wireless communications towers agreed to buy AAT Communications in a cash and stock deal valued at $1 billion. SBA will pay $634 million in cash and 17.1 million shares for AAT. SBA said the purchase will increase its tower portfolio by 55%, bringing its number of towers to roughly 5300 after the deal closes. SBA shares recently changed hands at $24.20, up $2.63. Shares of eOn Communications ( EONC) soared 32% after the maker of communications systems swung to a second-quarter profit. The company earned $607,000, or 5 cents a share, on revenue of $3 million. Earnings from continuing operations were $180,000, or a penny a share, for the January quarter. During the year-earlier period, the company recorded a loss of $528,000, or 4 cents a share, on revenue of $2.6 million. Shares were trading up 66 cents to $2.71.
Intevac ( IVAC) shares rose 3% after the supplier of disk-sputtering equipment received an order for two of its 200 Lean magnetic disk-sputtering systems. "The number of 200 Lean systems we have on order is now more than two-thirds of our February 7 high-end guidance for 2006," the company said. The systems will be delivered during the second half of 2006, which is when Intevac will recognize revenue under the deal. Financial terms weren't disclosed. Shares were up 68 cents to $22. Other technology movers included JDSU ( JDSU), up 11 cents to $4.07; Intel ( INTC), down 2 cents to $19.63; Microsoft ( MSFT), up 30 cents to $27.57; Oracle ( ORCL), up 14 cents to $13.64; Sirius Satellite Radio ( SIRI), up 28 cents to $4.79; Cisco Systems ( CSCO), up 31 cents to $21.56; Sun Microsystems ( SUNW), down 3 cents to $4.77; Brocade Communications Systems ( BRCD), up 38 cents to $6.14; Applied Materials ( AMAT), down 17 cents to $17.53; Lucent Technologies ( LU), up 3 cents to $2.94; and Avanex ( AVNX), up 2 cents to $3.03.