Sector Update: Technology

By Staff,

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Technology shares were generally higher in pre-market trade Friday.

In technology stocks news, computerized-machine-tools maker Hurco Cos. ( HURC ) reported a 5.1% increase in fiscal Q1 earnings as sales and service fees climbed on increased orders in Germany and China.

For the quarter ended Jan. 31, the company reported net income of $2.4 million, or $0.36 per share, up from $2.3 million, or $0.34 per share, a year earlier. No analyst estimates were available via Capital IQ for comparison.

Sales and service fees climbed 16% to $51 million, with the stronger euro providing a boost of $600,000. Gross margin slipped to 27% from 29%.

And, shares of Alaska Communications Systems Group Inc. ( ALSK ) have tumbled 13% pre-market after the company late Thursday reported Q4 earnings that fell well short of analyst expectations.

ALSK reported a loss of $0.16 per share for Q4, while analysts had predicted that the company would earn $0.02 per share. The company edged revenue expectations with $74.5 million in sales, compared to analyst forecasts of $73.06 million. Shares of ALSK trade within a 52-week range of $1.55 - $3.90.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing Commodities
Referenced Stocks: HURC , ALSK

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