NEW YORK ( TheStreet) -- Shares of MIPS Technologies ( MIPS) were among the biggest percentage decliners in extended trading on Tuesday after the Sunnyvale, Calif.-based chip maker fell short of Wall Street expectations with its fiscal third-quarter results and gave a disappointing outlook. The company, whose processors are used in digital set-top boxes, DVD recordable devices, network routers and other products, reported non-GAAP earnings of $4.7 million, or 9 cents a share, on revenue of $20 million for the three months ended in March. The average estimate of analysts polled by Thomson Reuters was for a profit of 10 cents a share in the March period on revenue of $21.7 million. The company, which is making a big push into mobile handsets and tablets using the Android operating system, said the performance was at the low end of its prior guidance, and attributed the weakness to a number of deals in the pipeline not closing in time. The stock was last quoted at $9.40, down 12%, on volume of more than 500,000, according to Nasdaq.com. Based on a regular session close at $10.68, the shares have more than doubled in the past year. At the same time, 2011 has been volatile with the stock hitting its 52-week high of $18.19 on Jan. 14 then tumbling more than 40% ahead of Tuesday's report. For its fiscal fourth quarter ending in June, MIPS said on its conference call that it expects non-GAAP earnings of 5 to 8 cents a share on revenue ranging from $19 million to $21 million, below the current consensus estimate for a profit of 9 cents a share on revenue of $21.1 million. The outlook for the full year is for pro forma earnings of 44 to 47 cents a share on revenue of between $84 million and $86 million. The five analysts covering MIPS' shares were overwhelmingly bullish ahead of the report with three rating the stock as a strong buy, and one each at buy and hold.
Amazon said it earned $201 million, or 44 cents a share, in the three months ended in March, well below the consensus profit view of 61 cents a share. The miss came despite a better than expected revenue total of $9.86 billion vs. the analyst expectation of $9.52 billion. The company's outlook was also problematic as Amazon forecast operating income ranging from $95 million and $245 million for its fiscal second quarter ending in June with revenue between $8.85 billion to $9.65 billion. Analysts are currently predicting operating profit of $356.4 million and revenue of $8.74 billion for the June period. Based on a regular session close at $182.30, Amazon shares were up 26% in the past year, although its 52-week high of $191.60 came back on Jan. 19.
The stock was last quoted at $56.05, up 7.5%, on volume of nearly 260,000, according to Nasdaq.com. The companies said Zaltrap, used in combination with a chemotherapy regimen, met a primary endpoint to improve overall survival in second-line treatment of metastatic colorectal cancer. Prior to the after-hours move, Regeneron shares had already doubled in the past year with their 52-week high of $50.23 coming on Monday. Other stocks moving in late trades after their quarterly reports included Acme Packet ( APKT), down 3% to $74.50 on volume of around 550,000; RF Micro Devices ( RFMD), off 5% to $6.01 on volume of around 350,000; and SuccessFactors ( SFSF), which dipped 6% to $37.95 on volume of almost 300,000. SuccessFactors beat Wall Street's consensus view for its fiscal first-quarter results and gave a strong outlook but also announced an agreement to acquire Plateau, an Arlington, Va.-based talent management software company, for $290 million in cash and stock. Also, Costco Wholesale ( COST) edged up 57 cents to $80.35 on volume of less than 60,000 after the Issaquah, Wash.-based warehouse retailer said its board has approved an increase in its quarterly cash dividend to 24 cents a share from 20.5 cents, and boosted its stock buyback program to $4 billion. -- Written by Michael Baron in New York. >To contact the writer of this article, click here: Michael Baron. >To submit a news tip, send an email to: firstname.lastname@example.org