Technology stocks were adding to slight gains earlier in today's
session with shares of technology companies in the S&P 500
climbing about 0.4% this afternoon.
In company news, Frequency Electronics (
) shares were ending with moderate gains Friday, with shares of the
electronics manufacturer reporting better-than-expected fiscal Q4
revenue and earnings falling short of Wall Street expectations.
The maker of precision time and frequency technology earned
$0.09 per share, improving on a $0.01 per share net loss during the
same quarter last year but lagging the Capital IQ consensus by
$0.07 per share.
Revenue rose 11.1% to $19.5 million, beating analyst estimates
by around $1.18 million.
Looking forward to FY15, FEIM board chairman said the company is
expecting its new satellite payload and secure communication
products to contribute to higher revenue and profits.
FEIM shares were ahead about 1.2% at $10.75 each shortly before
the closing bell this afternoon, earlier advancing to an intra-day
high of $11.25 a share. The stock has a 52-week range of $9.52 to
$13.31, climbing almost 13% over the past 12 months.
In other sector news,
(+) ICLD, Reports an influx of new purchase orders for its WiFi,
distributed antenna systems and other next-generation mobile
network solutions, including more than $3.1 mln in orders from
(-) KFX, Projected FY14 revenue rises as much as 11.9% over
prior-year levels but trail the enterprise software firm's
financial guidance, largely due to $6 million in delays in license
Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.