Sector Update: Technology

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Technology stocks are slightly lower after Intel ( INTC ) warned of sluggish PC sales next year. At last look, shares of technology companies in the S&P 500 were down 0.2%.

In company news, LRAD Corp ( LRAD ) is up just more than 5% at $1.87 per share, earlier climbing to its best price since late August 2011 at $2.16 after late Thursday reporting fiscal Q4 net income of $0.09 per share, up from a $0.04 profit in the year-ago period.

LRAD earned $0.09 per share in FY13, easily topping the single analyst estimate expecting a $0.02 loss for the 12 months ended Sept. 30, according to Thomson Reuters.

Revenue for the maker of long-range acoustic devices rose 56% year over year to $8.8 million. The company received $2 million during the quarter from a $12.2 contract recently awarded by the U.S. Navy for its long-distance hailing device through a competitive bid process.

FY13 revenue rose 16% year over year to $17.1 million, which included an 84% rise in international sales during the now-completed fiscal year compared with the prior 12 months. There were no analyst estimates for Q4 earnings or for Q4 and FY13 revenues.

In other sector news,

(+) ATRM, (+102.8%) Receives $2.1 mln in orders from both new and existing customers for multiple sets of its VMAX integrated circuit test handlers. ATRM reported $1.9 mln in sales through first nine months of 2013. Delivery is slated for Q1.

(-) VMEM, (-46.8%) Narrows per-share net loss by 58% from last year to $0.63 but still lags Wall Street estimates by $0.16 per share. Revenue grew 37% to $28.3 mln, trailing the Capital IQ consensus by $3.4 mln. Q4 revenue guidance misses by at least $13.3 mln



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This article appears in: Investing , Commodities

Referenced Stocks: INTC , LRAD

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