Tech Sector Slipping After Intel Warning; LRAD Hits 15-Month High After FY13 EPS Beats Lone Analyst Estimate

Shutterstock photo

Top Tech Stocks

MSFT +0.40%

AAPL -0.24%

IBM -0.93%

CSCO +0.05%

GOOG -0.11%

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

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) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , Commodities
Referenced Symbols: INTC , LRAD

More from MT Newswires


MT Newswires

MT Newswires

Market News, Commodities

Research Brokers before you trade

Want to trade FX?

Find a Credit Card

Select a credit card product by:
Select an offer:
Data Provided by BankRate.com