Wireless Facilities ( WFII) tumbled 14.8% in after-hours trading Monday after announcing that there's a "strong likelihood" it will need to restate results from 1998 through 2003, based on preliminary findings from an ongoing internal stock-option grant review. The San Diego-based firm will delay filing its year-end 2006 financials until the review is finished. Shares of the wireless-communications services firm were falling 31 cents to $1.79 in recent extended trading.

TransAct Technologies ( TACT) dropped after Chief Executive Bart Shuldman issued a nonspecific "cautious outlook" for the coming year, citing decelerating slot-machine orders from casinos. The company blames this on "anticipation of the expected upgrade cycle for server-based gaming," and additionally believes that pending casino privatizations may contribute to the slowdown.

Despite swinging to a fourth-quarter profit that beat expectations, the Wallingford, Conn.-based small-cap was losing $1.02, or 10.9%, to $8.37.

Panacos Pharma ( PANC) declined after announcing a more cautious phase IIb study of bevirimat for HIV treatment, the first cohort of which yielded disappointing results due to poor drug delivery. The next few cohorts will go back to the oral-liquid formulation used in the phase IIa studies and test fewer patients for shorter amounts of time (14 days) with increasing dosages.

When the optimal dosage is determined, Panacos will conduct extended-dose cohorts. Panacos expects pivotal trials of the drug to begin sometime in 2008. Shares of the Watertown, Mass., company were off 46 cents, or 10.8%, to $3.79.

Texas Instruments ( TXN) whittled down both ends of its first-quarter guidance, now predicting earnings of between 29 cents and 33 cents a share on sales of $3.07 billion to $3.22 billion. Previously, the Dallas-based chipmaker expected a profit of 28 cents to 34 cents a share on $3.01 billion to $3.28 billion of revenue. Wall Street is expecting earnings of 31 cents on $3.15 billion in sales, according to Thomson Financial. Shares were down 73 cents, or 2.2%, to $31.86.

Jo-Ann Stores ( JAS) jumped after the crafts-store chain swung to a profit of $25.8 million, or $1.05 a share, in the quarter ended Feb. 3, which flew past analysts' estimates of 98 cents. Last year the Ohio-based company lost $18 million, or 78 cents a share.

Looking ahead, fiscal 2008 earnings are pegged at between 55 cents and 65 cents a share, well above Wall Street's consensus of 30 cents. The company also expects to reverse fiscal 2007's 1.7% same-store sales decline. Shares were rising $1.77, or 7.7%, to $24.65 in recent after-hours action.

Ixia ( XXIA) doubled its non-GAAP fourth-quarter profits and beat expectations. The Calabasas, Calif., maker of Internet-protocol test systems earned $8.9 million, or 13 cents a share, up from 6 cents a share a year ago. The Street was looking for 9 cents a share. Revenue shot up by one-third to $47.4 million, topping targets by $4.6 million. Shares were adding 61 cents, or 5.5%, to $11.79.

Gaiam ( GAIA) said its fourth-quarter profit surged to $4.3 million, or 16 cents a share, from last year's $1.5 million, or 7 cents a share. This met two analysts' expectations. The Broomfield, Colo., publisher of mail-order catalogs was gaining 27 cents, or 2%, to $13.50.

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