Tech Industry

Roundup: Gadzoox Networks posts dismal 2Q results

Gadzoox Networks posted a loss of $23.9 million, or 86 cents a share, on sales of $7.2 million after the bell Monday.

Earlier this quarter, Gadzoox warned that it would miss analysts' sales and loss estimates in the quarter.

However, the First Call Corp. consensus estimate wasn't changed in the interim.

Analysts were expecting a loss of 30 cents a share in the quarter.

Ahead of the earnings report, Gadzoox (Nasdaq: ZOOX) shares closed off 25 cents to $5.63.

"We are transitioning the company, and the second quarter results clearly reflect that," said CEO Michael Parides in a prepared release. "What the results don't reflect is the progress we're making towards a more focused approach to products, strategic direction and how the company will function operationally."

Last quarter, the company missed analysts' estimates when it posted a loss of $9.4 million, or 35 cents a share, on sales of $9 million.

Its shares rallied up to a 52-week high of $88 in December before falling to a low of $4.25 earlier this month.

Among other technology firms reporting earnings Monday:

  • The Cobalt Group (Nasdaq: CBLT) posted a smaller-than-expected loss in its third quarter, dropping $6.3 million, or 35 cents a share, on sales of $11.3 million.

    Analysts were expecting a loss of 44 cents a share in the quarter.

    Its shares finished up 19 cents to $3 ahead of the earnings report.

    The provider of Internet marketing and data aggregation services saw its stock moved up to a 52-week high of $34 in January.

  • Radcom (Nasdaq: RDCM) met the Street estimates in its third quarter, earning $522,000, or 5 cents a share, on sales of $9 million.

    Its shares finished up 19 cents to $7.06 ahead of the earnings report.