Shares of Garmin ( GRMN) were among technology's losers Wednesday, slumping 15% after the maker of global positioning equipment posted in-line third-quarter earnings but disappointed on the top line. The company earned $123 million, or 56 cents a share. Excluding foreign exchange effects, the company posted earnings of 50 cents a share, matching analysts' mean estimate. Revenue totaled $408 million, well short of analysts' forecast of $423.4 million. During the year-earlier quarter, Garmin earned $102.5 million, or 47 cents a share, on revenue of $251 million. Excluding the effects of foreign exchange, year-ago earnings were 33 cents a share. Looking ahead, Garmin forecast full-year earnings of $2.04 a share, which excludes foreign currency translation, on revenue of more than $1.68 billion. Analysts project earnings of $2.03 a share on revenue of $1.66 billion. Shares were trading down $7.97 to $45.50. ClickSoftware ( CKSW) surged 18% after the software company said it swung to a third-quarter profit. The company earned $797,000, or 3 cents a share, on revenue of $8.7 million. During the year-earlier period, the company reported a loss of $307,000, or a penny a share, on revenue of $6.1 million. For the fourth quarter, ClickSoftware sees revenue of about $9 million. Shares were trading up 42 cents to $2.87. Shares of Giga-tronics ( GIGA) soared 44% after the maker of microwave components posted a much smaller loss compared to a year ago. The company reported a loss of $403,000, or 8 cents a share, on revenue of $3.9 million. A year earlier, Giga-tronics posted a loss of $1.1 million, or 24 cents a share, on revenue of $3.6 million. Second-quarter orders, meanwhile, jumped 215% to $5.8 million. Shares were adding 65 cents to $2.22.
Citrix Systems ( CTXS) fell modestly after the software company boosted its stock buyback program by up to $300 million. The total repurchase plan now sits at $1.5 billion. As of Sept. 30, the company had $85 million remaining under the plan. Shares were down 22 cents to $29.31. Shares of Nice Systems ( NICE) traded actively after the Israeli communications outfit posted better-than-expected third-quarter results. The company reported a loss of $5.4 million, or 11 cents a share. Excluding certain items, the company earned $16 million, or 31 cents a share, beating analysts' forecast by 2 cents a share. Adjusted revenue totaled $112.2 million, compared with analysts' prediction of $110 million. Last year, Nice Systems posted adjusted earnings of $9 million, or 22 cents a share, on revenue of $82.7 million. Nice Systems sees fourth-quarter earnings of 32 cents to 37 cents a share, with revenue of $115 million to $120 million. Analysts project earnings of 33 cents a share and revenue of $117.1 million. Shares were trading down 14 cents to $30.63, on more than double their average daily volume. Other technology movers included Microsoft ( MSFT), up 13 cents to $28.84; Sun Microsystems ( SUNW), down 6 cents to $5.37; Cisco Systems ( CSCO), up 25 cents to $24.38; Intel ( INTC), down 9 cents to $21.25; Dell ( DELL), up 45 cents to $24.78; Sirius Satellite Radio ( SIRI), down 6 cents to $3.77; Finisar ( FNSR), down 13 cents to $3.35; and Apple Computer ( AAPL), down 73 cents to $80.35.