Shares of Standard Microsystems ( SMSC) were among technology's winners Monday, soaring 20% after the chipmaker posted better-than-expected first-quarter results and gave a second-quarter guidance ahead of Wall Street's forecast. For the three months ending May 31, the company earned $8.6 million, or 37 cents a share, on revenue of $86.1 million. Excluding items, Standard Microsystems earned $7.6 million, or 33 cents a share. Analysts polled by Thomson First Call expected earnings of 24 cents a share on revenue of $83.8 million. During the year-earlier period, the company earned $3 million, or 15 cents a share, on revenue of $68.8 million. "SMSC turned in a quarter of impressive year-over-year growth," the company said. "Revenues increased by 25% from the same period last year due to strong design ramps and consumer market penetration." Looking ahead, Standard Microsystems sees second-quarter earnings of 32 cents to 36 cents a share, before items. The company anticipates revenue of $92 million to $96 million. Analysts project earnings of 29 cents a share on revenue of $87.4 million. Shares were trading up $4.10 to $24.57. Kronos ( KRON) slumped 21% after the software company lowered its fiscal third-quarter estimates. For the quarter ended July 1, the company expects to report earnings of 30 cents to 33 cents a share, down from an earlier view of 32 cents to 36 cents a share. Kronos now sees revenue of $140 million to $141.5 million, below an earlier forecast of $145 million to $149 million. Analysts project earnings of 35 cents a share and revenue of $147.1 million. "Our financial performance this quarter did not meet our guidance. Notwithstanding these results, we believe the pipeline for future business is solid and our competitive position remains strong," Kronos said. Shares were down $7.25 to $27.37. EMC ( EMC) shares were down 2% after the storage-software company said second-quarter results would miss expectations. The company estimated revenue of $2.575 billion, below its guidance at least $2.66 billion. EMC expects to report net earnings of 12 cents a share, including charges of 2 cents a share related to options expense, 2 cents from amortization and a 1 cent tax benefit. The company previously had forecast earnings of 13 cents a share, including all items. EMC said it had difficulty meeting demand for its new Symmetrix systems. Shares were down 24 cents to $10.94.
Shares of ScanSource ( SCSC) rose 8% after the maker of bar-code scanners projected fourth-quarter revenue above analysts' forecast. For the period ended June 30, the company estimates revenue of $453 million to $461 million. Analysts project revenue of $433 million. A year earlier, the company posted revenue of $381.2 million. ScanSource will report its fourth-quarter results on Aug. 17. Shares were trading up $2.31 to $29.90. EMS Technologies ( ELMG) tumbled 20% after the maker of wireless communications products slashed its 2006 earnings guidance and warned that second-quarter earnings would be weaker than expected. The company now sees 2006 earnings of 70 cents to 80 cents a share, down from an earlier view of 96 cents to $1.06 a share. Analysts project earnings of $1.01 a share. EMS blamed the shortfall on "developing uncertainty" over the timing of orders at its wireless division. As for the second quarter, EMS said that earnings would be below expectations. "We still expect the company to be profitable in the second quarter, although not at the level that analysts have forecast," EMS said. Analysts had predicted earnings of 23 cents a share. EMS shares were trading at $15.32, down $3.83. Shares of Network Equipment Technologies ( NWK) rose 9% after the networking company lifted its first-quarter revenue guidance. The company now sees revenue of $17.2 million to $17.7 million, up from an earlier forecast of about $14 million. "In our fiscal first quarter, we saw an increase in our government business that positioned us well going into this current quarter, historically a strong quarter due to the federal government's year end," the company said. The company plans to issue first-quarter results on July 26. Shares were trading up 28 cents to $3.39. Other technology movers included Lucent Technologies ( LU), down 2 cents to $2.35; Sun Microsystems ( SUNW), down 1 cent to $3.90; Microsoft ( MSFT), up 30 cents to $23.60; Intel ( INTC), down 6 cents to $18.50; Oracle ( ORCL), up 13 cents to $14.91; Sirius Satellite Radio ( SIRI), down 8 cents to $4.33; Level 3 Communications ( LVLT), up 10 cents to $4.50; Cisco Systems ( CSCO), down 12 cents to $19.27; Apple Computer ( AAPL), up 68 cents to $56.08; and JDSU ( JDSU), unchanged at $2.31.