Shares of Phazar were among technology's losers Monday, tumbling 22% after the antenna maker posted a decline in fiscal-year earnings and revenue. For the year ended May 31, the company posted earnings from continuing operations of $1.1 million on revenue of $9.5 million. A year earlier, the company earned $1.7 million on revenue of $11.6 million. Phazar attributed the decline to lower margins and the completion of a production contract during the second quarter. Shares were trading down $1.85 to $6.47. PacificNet ( PACT) jumped 16% after the IT-services company posted big gains in second-quarter earnings and revenue. The company earned $952,000, or 8 cents a share, on revenue of $19.3 million. Revenue easily surpassed the company's forecast of $15 million to $16 million. During the year-earlier quarter, PacificNet earned $593,000, or 6 cents a share, on revenue of $12.3 million. Looking ahead, PacificNet sees third-quarter earnings of $900,000 to $1 million, or 9 cents to 10 cents per basic share, on revenue of $20 million to $21 million. Shares were trading up 81 cents to $5.91. Shares of Micronetics tumbled 18% after the maker of microwave and radio-frequency components posted first-quarter earnings and revenue that fell significantly on a sequential basis. For the period ended June 30, the company earned $548,272, or 11 cents a share, on revenue of $6.8 million. During the fourth quarter, which ended March 31, the company earned $942,110, or 19 cents a share, on revenue of $8.6 million. "Although we are continuing to see indicators of long term strength in the Broadband Wireless Access (BWA)/WiMax and In-Flight Live TV-internet connectivity markets, the near-term projections from our customers indicate these markets are volatile," the company said. In the year-ago period, Micronetics about $320,000, or 7 cents a share, on revenue of $3.9 million. Shares were down $2.15 to $9.85.
Agilent Technologies ( A - Get Report) rose 4% ahead of its third-quarter earnings release after the market close. Analysts polled by Thomson First Call expect the company to report earnings of 41 cents a share for the July quarter, with revenue of $1.43 billion. Last year, Agilent posted adjusted third-quarter earnings of $142 million, or 28 cents a share, on revenue of $1.69 billion. Shares were trading up $1.21 to $28.41. Shares of Ciber ( CBR) rose 2% after the information-technology consulting services firm announced a $6 million buyback plan. The company said that it would buy up to $6 million in stock or convertible debt, depending on what it deems most advantageous. "Ciber's revenue has never been higher and earnings and cash flow are improving in 2006," the company said. "We are confident in the balanced and strategic direction of our business model, and believe shareholders are benefited best at current prices by using our cash flow to reduce shares and/or debt outstanding." Shares were up 15 cents to $6.48. Other technology movers included Cisco Systems ( CSCO), up 54 cents to $20.08; Intel ( INTC), up 52 cents to $17.93; Lucent Technologies , up 2 cents to $2.13; Microsoft ( MSFT), up 2 cents to $24.45; Oracle ( ORCL), up 49 cents to $15.48; Apple Computer ( AAPL), up 86 cents to $64.51; JDSU ( JDSU), up 6 cents to $2.19; Sun Microsystems ( SUNW), up 3 cents to $4.48; Dell ( DELL), up 66 cents to $21.73; Level 3 Communications ( LVLT), down 3 cents to $3.70; and Symantec ( SYMC), up 40 cents to $17.98.