Shares of OmniVision Technologies ( OVTI) were among technology's losers Friday, tumbling 16% after the maker of semiconductor image sensors posted disappointing second-quarter results and a softer-than-expected guidance. For the period ended Oct. 31, the company earned $5.4 million, or 10 cents a share, on revenue of $137.7 million. Excluding items, adjusted earnings were $15.7 million, or 28 cents a share. Analysts polled by Thomson First Call expected earnings of 30 cents a share, before items, on revenue of $139.8 million. During the year-earlier period, OmniVision earned $22.6 million, or 41 cents a share, on revenue of $126.8 million. Looking ahead, OmniVision forecast third-quarter adjusted earnings of 16 cents to 23 cents a share on revenue of $135 million to $145 million. Analysts project earnings of 33 cents a share on revenue of $146.7 million. Shares were trading down $2.59 to $13.70. En Pointe Technologies ( ENPT) shares more than doubled after the provider of IT services swung to a fourth-quarter profit. For the period ended Sept. 30, the company earned $1.5 million, or 21 cents a share, on revenue of $65.2 million. During the year-earlier period, the company reported a loss of $349,000, or 5 cents a share, on revenue of $74.2 million. "We are particularly pleased how our service and product gross profits combined to make the fourth quarter the most profitable one of fiscal 2006," the company said. Shares were trading up $2.97 to $5.61.
Shares of Logic Devices ( LOGC) soared 20% after the chipmaker said it swung to a fourth-quarter profit. For the period ended Sept. 30, the company earned $71,800, or a penny a share, reversing a year-earlier loss of $808,300, or 12 cents a share. Revenue rose to $1.3 million from $1.0 million. Shares were trading up 52 cents to $3.09. Finisar ( FNSR) tumbled 9% after the maker of optical networking systems posted weaker-than-expected sales for its second quarter and projected that sequential revenue growth would be nearly flat. For the quarter ended Oct. 28, sales were $108 million, below the $110 million analysts had anticipated. For the third quarter, Finisar projected revenue of $110 million, below the $114 million Wall Street estimate. Finisar also said it will restate results going back to its November 1999 initial public offering to fix its stock-option accounting. Shares were down 38 cents to $3.45. Shares of NeoMagic ( NMGC) jumped 15% after the chipmaker said it plans to sell 2.5 million shares of stock at $4.58 a share. The offering will raise about $11.5 million. The company will also issue warrants to buy an additional 1.25 million shares at $5.20 a share. The deal is expected to close on or about Dec. 6. NeoMagic plans to use proceeds from the offering to fund working capital and for general purposes. Shares were trading up 83 cents to $5.34.
AXT ( AXTI) fell 2% after the maker of semiconductor substrates said it plans to sell 4.15 million shares of stock. AXT said it expects the sale to take place in mid-December. The company plans to use proceeds from the offer for general purposes. Shares were trading down 12 cents to $5.06. Other technology movers included Microsoft ( MSFT), down 27 cents to $29.09; Level 3 Communications ( LVLT), up 13 cents to $5.47; Sirius Satellite Radio ( SIRI), down 8 cents to $4.18; Intel ( INTC), down 39 cents to $21.01; Cisco Systems ( CSCO), down 1 cent to $26.90; Sun Microsystems ( SUNW), up 2 cents to $5.44; and Apple Computer ( AAPL), down 37 cents to $91.29.