Shares of SiRF Technology ( SIRF) plummeted in late trading Tuesday after the company's latest second-quarter earnings report. SiRF, a maker of chips and software for GPS systems, said earnings dropped to $1.7 million, or 3 cents a share, down from $3.9 million, or 7 cents a share, a year ago. Excluding certain items, earnings rose to $11 million, or 20 cents a share, from $7.4 million, or 14 cents a share, a year ago. Analysts polled by Thomson First Call projected earnings of 19 cents a share, before items. Revenue totaled $57.2 million, up 61% from a year ago but slightly below Wall Street's forecast of $57.3 million. Shares were off $4.96, or 19%, to $20.69 after hours Tuesday. Shares of Amazon.com ( AMZN) fell after the online retailer's earnings missed Wall Street's targets. For the second quarter, the company earned $22 million, or 5 cents a share, down from $52 million, or 12 cents a share, a year ago. Revenue rose to $2.14 billion from $1.75 billion a year earlier. Analysts were looking for a 7-cent profit on sales of $2.1 billion. Operating income dropped 55% from a year ago to $47 million. For the third quarter, Amazon forecast operating income of $7 million to $42 million and sales of around $2.25 billion. For the year, the company expects operating income of about $375 million on revenue of around $10.4 billion. Analysts predicted sales of $2.21 billion for the quarter and $10.14 billion for the full year. Shares fell $4.14, or 12%, to $29.45 after hours. Cymer ( CYMI) stumbled as the chip-manufacturing equipment company's second-quarter earnings and third-quarter guidance fell short of Wall Street's expectations. Cymer earned $22.6 million, or 55 cents a share, in the second quarter, up from $11 million, or 30 cents a share a year ago. Revenue rose 40% from a year ago to $135.4 million. Wall Street was looking for Cymer to report earnings of 56 cents a share on revenue of $139 million.
Looking ahead, Cymer estimated that third-quarter revenue would be up between 5% and 10% over the second quarter. The projection suggests revenue of $142.2 million to $148.9 million. Analysts had forecast third-quarter revenue of $150.4 million. Shares sank $7.17, or 18%, to $33.40 after hours. Encore Wire ( WIRE) posted second-quarter earnings that rose sharply from a year ago and topped analysts' estimates. The copper wire company said net income totaled $57.1 million, or $2.41 a share, compared with $2.4 million, or 10 cents a share a year ago. Two analysts had an average estimate for earnings of 90 cents a share. Higher wire prices helped boost second-quarter sales to $362 million from $169.3 million last year. Shares were rose $2.85, or 8%, to $38.25 in late trading. Flextronics ( FLEX) gained after the Singapore-based printed circuit-board company beat Wall Street's first-quarter earnings forecast. For the period ended June 30, the company earned $84.5 million, or 14 cents a share, up from $58.7 million, or 10 cents a share, a year ago. Excluding restructuring and other charges, Flextronics earned $103.7 million, or 18 cents a share, beating analysts' mean estimate by 2 cents. Revenue rose to $4.06 billion from $3.82 billion, surpassing Wall Street's target of $3.81 billion. For the September quarter, Flextronics projected revenue from continuing operations of $4.7 billion to $4.9 billion and EPS of 19 cents and 21 cents. Wall Street forecast lower sales at $4.17 billion and an EPS at the low end of the range at 19 cents. For the full year ending in March 2007, Flextronics forecast $19 billion in sales from continuing operations and EPS of about 80 cents. That tops analysts' current projection for $16.68 billion in revenue and an EPS of 77 cents. Shares rose 35 cents, or 3.3%, to $10.95 after hours.