Shares of United Industrial ( UIC) were among technology's losers Monday, tumbling 18% after the maker of unmanned aircraft systems, armament systems, and other technology products posted first-quarter earnings that missed expectations.

The company reported earnings from continuing operations of $8.9 million, or 69 cents a share, on revenue of $137.6 million. The results included stock-based compensation costs of 2 cents a share. Analysts polled by Thomson First Call expected earnings of 74 cents a share. During the year-earlier period, United Industrial earned $12.6 million, or 84 cents a share, including a one-time gain of 29 cents a share. Revenue totaled $107.5 million in the year-earlier quarter. Shares were trading down $12.15 to $55.65.

Integral Systems ( ISYS) shares rose 5% after the software company posted higher second-quarter results and raised its 2006 guidance. For the quarter ended March 31, the company earned $3.5 million, or 32 cents a share, on revenue of $32.2 million. One analyst had a projection for earnings of 22 cents a share on revenue of $28.2 million. During the year-earlier quarter, Integral Systems earned $2 million, or 20 cents a share, on revenue of $23.3 million.

Looking ahead, Integral Systems now sees 2006 earnings of $1.04 a share on revenue of $115 million. The company's earlier forecast called for a profit of 92 cents a share and revenue of $112.5 million. The lone analyst expects earnings of 94 cents a share and revenue of $113.6 million. Shares were trading up $1.33 to $29.13.

Shares of Ness Technologies ( NSTC) fell 7% after the company posted in-line first-quarter earnings. The company, a provider of information technology services, reported earnings of $6.3 million, or 18 cents a share, on revenue of $107 million. Analysts expected earnings of 18 cents a share and revenue of $106.6 million. A year earlier, the company earned $4.9 million, or 14 cents a share, on revenue of $88.4 million.

For the second quarter, Ness sees earnings of 14 cents to 17 cents a share, with revenue of $112 million to $118 million. The guidance includes unspecified integration costs associated with an acquisition. Analysts project earnings of 18 cents a share on revenue of $116.4 million. For the full year, the company continues to forecast earnings of 80 cents to 85 cents a share, bracketing analysts' mean estimate of 82 cents. Ness projects revenue of $470 million to $485 million, compared with Wall Street's estimate of $476.4 million. Shares were down 93 cents to $11.96.

Allied Motion Technologies ( AMOT) jumped 18% after the maker of motion control products posted a big jump in first-quarter earnings and sales. The company earned $348,000, or 5 cents a share, up from $168,000, or 2 cents a share, a year earlier. Sales rose to $21.2 million from $18.5 million. Shares were up 76 cents to $5.01.

Shares of Lightbridge ( LTBG) fell 4% after the transaction processor said that cell-phone service provider T-Mobile plans to move its contact center business to other vendors. Lightbridge said it expects the transition to be completed by the end of the second quarter. During the first quarter, Lightbridge's contact center business operated on a break-even basis while revenue from T-Mobile was about $2.3 million.

Despite the setback, Lightbridge affirmed its second-quarter guidance, which calls for earnings of 7 cents to 14 cents a share and revenue of $24.8 million to $26.5 million. Excluding stock-based compensation costs, Lightbridge sees second-quarter earnings of 10 cents to 17 cents a share. Analysts project earnings of 15 cents a share and revenue of $26.4 million. Shares were trading down 58 cents to $12.55.

Other technology movers included Intel ( INTC), up 62 cents to $20.13; Sun Microsystems ( SUNW), down 1 cent to $5.09; Microsoft ( MSFT), down 21 cents to $23.59; Cisco Systems ( CSCO), up 2 cents to $21.77; JDSU ( JDSU), down 11 cents to $3.28; Lucent Technologies ( LU), down 2 cents to $2.78; Apple Computer ( AAPL), up 25 cents to $72.14; Sirius Satellite Radio ( SIRI), up 1 cent to $4.74; Oracle ( ORCL), down 13 cents to $14.32; Dell ( DELL), up 48 cents to $26.16; Applied Materials ( AMAT), down 3 cents to $19.02; Finisar ( FNSR), up 10 cents to $5.35; and Conexant ( CNXT), down 2 cents to $3.78.

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