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Tech Industry

STOCKS TO WATCH: Fairchild Semi, Iomega, New Era of Networks, VerticalNet

    Expect the following technology stocks to be among Monday’s most actively traded issues: Fairchild Semiconductor, Iomega and New Era of Networks.

  • Fairchild Semiconductor (NYSE: FCS)

    Fairchild Semiconductor will be active Monday after it warned that sales in its fourth quarter will fall between $468 million to $470 million and that it saw lower sales ahead.

    The South Portland, Maine-bases firm said it expected first quarter 2001 sales to be between 5 and 8 percent lower than the previous quarter. Fairchild said soft results early in the year are normal for the industry.

    The company said it believed revenues in the second quarter 2001 will rebound slowly but that growth would accelerate in the second half of the year and into 2002.

    Its shares closed off 31 cents to $15 Friday.

  • Iomega (NYSE: IOM)

    Iomega will be in for a rough day Monday after it warned that its fourth-quarter sales and earnings will fall far short of targets due to slow sales of its signature Zip drives and disks and higher advertising costs.

    Revenues for the fourth quarter will be $325-330 million against $434 million a year earlier, the Roy, Utah-based company said in a statement.

    Treasurer Tracy Welch said diluted net earnings per share, excluding a tax benefit, would be two to four cents. Analysts on average had expected Iomega to post per-share earnings of 11 cents, according to First Call/Thomson Financial.

    ``We are taking steps to control costs to adjust to changing market conditions and expect to remain profitable,'' President and Chief Executive Bruce Albertson said in a statement.

    Including a 5-cent-per-share tax benefit, Iomega said earnings per share would be seven to nine cents.

    The stock closed up 19 cents to $4.05 Friday.

  • New Era of Networks (Nasdaq: NEON)

    New Era of Networks will be active Monday after warning it will miss analysts’ sales estimates by $18 million and post a huge loss in its fourth quarter.

    Its shares closed off 94 cents to $5.50 ahead of the warning.

    Company officials now expect total sales of only $40 million in the quarter $188 million in the fiscal year, well below the $58 million and $208 million, respectively, expected by analysts.

    It now expects to post a loss of 35 cents a share in the quarter, including a 10-cent-a-share charge to erase bad debts from delinquent customers.

    First Call Corp. consensus expected the Internet software provider to earn 11 cents a share in the quarter.

    New Era will also take an unspecified restructuring charge in the quarter.

    Last quarter, New Era posted a profit of 8 cents a share on sales of $55 million.

    VerticalNet (Nasdaq: VERT)

    VerticalNet CEO Joe Galli is leaving the B2B company for Newell Rubbermaid. In a statement Galli said he wanted to go back to his roots in the old economy.

    The timing couldn't have been worse. VerticalNet is transitioning to be a software company.