Technology stocks were slightly lower in afternoon trade with
shares of technology companies in the S&P 500 slipping about
In company news, Ciber Inc (
) slumped Tuesday after the information technology firm reported
below-consensus Q2 earnings and revenue and announced a company
restructuring program set to begin during the current quarter.
The company today posted a $0.02 per share net loss, reversing a
$0.04 per share profit during the year-ago period and trailing
analyst estimates by $0.08 per share. Revenue declined 2.6% year
over year to $214.6 million, lagging the Capital IQ consensus by
CBR also said it late last week approved a restructuring program
that will be focused on implementing a "go-to-market" model,
realigning the organization and improving our offshore delivery
mix. The year-long initiative is expected to generate around $24
million in cash restructuring costs.
The company's shares were down more than 12% in late trade at
$3.89 apiece, just 8 cents off its session low. The stock has
traded within a 52-week range of $3.08 to $5.09 a share, holding on
to a 3.5% advance over the past 12 months.
In other sector news,
(+) CGNX, Adjusted Q2 net income of $0.32 per share beats by
$0.10 per share. Revenue climbs 25.8% year over year to $108.8 mln,
topping estimates by $5.3 mln. Sees Q3 revenue in range of $165 mln
to $170 mln, topping Street view by at least $22.2 mln.
(-) AFOP, Q2 revenue grows 27.1% year over year to $24.19 mln,
trailing analyst estimates by $990,000. Adjusted EPS of $0.32 beats
by $0.01 per share.