Shares of EFJ ( EFJI) were among technology's losers Tuesday, plunging 30% after the wireless telecom-systems company said it swung to an unexpected first-quarter loss and lowered its full-year revenue outlook. The company posted a loss of $3.1 million, or 12 cents a share, on revenue of $10.6 million. Analysts expected a profit of 8 cents a share and revenue of $22.7 million. During the year-earlier period, the company earned $5.2 million, or 28 cents a share, on revenue of $24.2 million. "Our revenue performance and resulting net loss for the first quarter of 2006 was primarily the result of a supplier providing product to us which did not meet our specification, quantity and delivery schedule requirements," the company said. "We believe we have satisfactorily addressed this supply chain issue and have resumed delivering products to customers." Looking ahead, EFJ now sees 2006 revenue of $105 million to $115 million, down from an earlier view of $120 million to $125 million. Analysts project revenue of $121.3 million. Shares were trading down $3.02 to $6.90. Sirius Satellite Radio ( SIRI) rose 3% after the satellite-radio company reported a narrower-than-expected first-quarter loss and raised its subscriber outlook. The company posted a loss of $458.5 million, or 33 cents a share, on revenue of $126.7 million. Analysts expected a loss of 36 cents a share and revenue of $123.2 million. Last year, Sirius reported a loss of $193.6 million, or 15 cents a share, on revenue of $43.2 million. Looking ahead, Sirius sees the number of subscribers climbing to over 6.2 million by the end of 2006, up from an earlier forecast of 6 million. The company expects revenue to exceed $600 million. Analysts project 2006 revenue of $618.1 million. Shares were trading up 15 cents to $4.77. Shares of Sapient ( SAPE) tumbled 25% after the information-technology company slashed its first-quarter service revenue and operating margin forecast. The company now sees service revenue of about $88 million, down from an earlier view of $95 million to $100 million. The company put its pro forma operating margin at 3%, down from an earlier forecast of 7% to 9%. "Approximately $4 million of work was performed for clients that the company was unable to record as revenue in the first quarter," Sapient said. What's more, a substantial amount of the costs related to the sales was recorded during the quarter. Analysts project revenue of $98.2 million. Sapient will report its full results on May 9. Shares were trading at $5.86, down $1.99.
PortalPlayer ( PLAY) fell 5% after the company posted weaker-than-anticipated first-quarter results and warned that second-quarter results would be well below Wall Street's expectations. The chipmaker posted earnings of $6.5 million, or 26 cents a share, on revenue of $72.3 million. Excluding one-time items and stock-based compensation costs, the company earned $10.4 million, or 40 cents a share. Analysts expected earnings of 42 cents a share and revenue of $73.9 million. During the year-earlier period, the company earned $7.8 million, or 31 cents a share, on revenue of $44.5 million. Excluding stock-based compensation costs, year-earlier earnings were $8.2 million, or 33 cents a share. PortalPlayer projects second-quarter results ranging from a loss of 3 cents a share to a profit of 5 cents a share. On a pro forma basis, which excludes amortization of intangibles and stock-based compensation costs, the company sees earnings of 3 cents to 14 cents a share. The company predicts revenue of $30 million to $40 million. Analysts project earnings of 27 cents a share and revenue of $61.3 million. Shares were down 62 cents to $10.89. Shares of Checkpoint Systems ( CKP) fell 5% after the electronic surveillance-products company posted weaker-than-expected first-quarter earnings. The company earned $2.5 million, or 6 cents a share, on revenue of $142.2 million. The results included a one-time gain of $1.3 million, or 3 cents a share. Analysts expected earnings of 15 cents a share. During the year-earlier period, Checkpoint earned $3.8 million, or 10 cents a share, on revenue of $156.4 million. For 2006, Checkpoint continues to forecast earnings of $1.40 to $1.50 a share on revenue that is flat to down 3% from year-earlier levels. Analysts project earnings of $1.43 a share for the year. Shares were down $1.28 to $25.10. Other technology movers included Microsoft ( MSFT), down 20 cents to $24.09; Sun Microsystems ( SUNW), up 13 cents to $5.04; Intel ( INTC), up 23 cents to $19.72; Lucent Technologies ( LU), down 3 cents to $2.76; Cisco Systems ( CSCO), up 53 cents to $21.49; Level 3 Communications ( LVLT), down 12 cents to $5.60; Oracle ( ORCL), down 8 cents to $14.50; Apple Computer ( AAPL), up $1.97 to $71.57; Ciena ( CIEN), up 13 cents to $4.14; Dell ( DELL), down 11 cents to $25.54; and JDSU ( JDSU), up 6 cents to $3.54.