Shares of Stratex Networks ( STXN) were among technology's winners Friday, climbing 15% after the maker of telecom equipment said that first-quarter results would be at the high end of its previous guidance. For the June quarter, the company expects to report earnings at the high end of its forecast of 2 cents to 4 cents a share. The company also sees revenue at the high end of its guidance, which called for a top line of $62 million to $66 million. Analysts polled by Thomson First Call project earnings of 3 cents a share and revenue of $63.6 million. "We are pleased with our anticipated results and with the excellent progress in meeting recent strong customer demand," the company said. Shares were trading up 44 cents to $3.41. Blue Coat Systems ( BCSI) sank 15% after the maker of network-security equipment said that it is conducting a voluntary review of its historical stock-option practices. The review will encompass the period from November 1999 to present. As a result of the review, Blue Coat won't be able to file its fiscal 2006 annual report on time. The company also withdrew its previously issued guidance for the first quarter, which ends this month, and said it expects to incur hefty legal and professional fees during the period. In May, the company forecast adjusted first-quarter earnings of 4 cents to 6 cents a share, with revenue of $36.1 million to $36.6 million. Analysts project earnings of 5 cents a share on revenue $36.4 million. Blue Coat shares were down $2.61 to $14.30. Shares of Radcom ( RDCM) slid 13% after the company cut its second-quarter revenue guidance. The company, which makes network test- and service-monitoring products for communications-service providers, now sees revenue of about $5.7 million. The company's earlier forecast was for revenue of $6 million to $6.5 million. A year earlier, the company posted revenue of $4.8 million. Shares traded down 26 cents to $1.78.
CalAmp ( CAMP) tumbled 14% after the wireless-equipment provider said it swung to a first-quarter loss. The company reported a loss of $34.1 million, or $1.47 a share, on revenue of $46.3 million. On an adjusted basis, the company posted a profit of $2.2 million, or 9 cents a share. During the year-earlier quarter, the company earned $2 million, or 9 cents a share, on revenue of $47.6 million. For the second quarter, CalAmp projects earnings of 5 cents to 9 cents a share. The company anticipates revenue of $55 million to $60 million. Shares were trading down $1.12 to $6.80. Shares of EMC ( EMC) fell 5% after the company posted second-quarter results in line with its tempered forecast and cut its full-year guidance. The computer storage company, which earlier in the week warned that its results would be lower than expected, posted earnings of $279.1 million, or 12 cents a share, on revenue of $2.57 billion. Excluding one-time items, EMC would have earned 15 cents a share. During the year-earlier period, the company posted earnings of $293.4 million, or 12 cents a share, on revenue of $2.34 billion. Excluding items, year-earlier earnings were 13 cents a share. EMC now sees 2006 earnings of 51 cents a share on revenue of more than $10.8 billion. Previously, the company projected a profit between 54 cents and 57 cents a share, with revenue of $11.1 billion to $11.3 billion. Analysts forecast earnings of 55 cents a share on revenue of $10.98 billion. Shares were down 48 cents to $9.50. Other technology movers included Lucent ( LU), down 6 cents to $2.07; Intel ( INTC), up 13 cents to $17.85; Microsoft ( MSFT), up 21 cents to $22.47; Apple Computer ( AAPL), down $1.30 to $50.95; Sun Microsystems ( SUNW), up 5 cents to $3.92; Cisco Systems ( CSCO), down 10 cents to $17.92; and Dell ( DELL), up 31 cents to $22.01.