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STOCKS TO WATCH: California Micro, ECI Telecom and Net Perceptions

Expect the following technology stocks to be among Friday’s most actively traded issues: California Micro, ECI Telecom and Net Perceptions.

  • California Micro Devices (Nasdaq: CAMD)

    California Micro Devices will be active Friday after warning that its third-quarter sales and earnings will miss analysts’ estimates mainly because several PC and networking customers cancelled orders.

    Its shares closed up 13 cents to $7.44 ahead of the warning.

    Company officials told investors that sales will in the third quarter will be 8 percent to 10 percent lower than the $16.1 million it recorded in the second quarter.

    Earnings are expected to fall 10 percent to 20 percent below the current First Call Corp. estimates of 14 cents a share.

    In the year-ago period, it posted a profit of 4 cents a share on sales of $11.7 million.

  • ECI Telecom (Nasdaq: ECIL)

    ECI Telecom could face some heat Friday after announcing it will cut about 400 employees ahead of its scheduled division into five separate companies.

    The company warned earlier this month that it expected to miss consensus earnings estimates in the fourth-quarter following poor optical network growth. It also expected to report an fourth-quarter operating loss of $15 million to $25 million, before restructuring and one-time charges.

    The staff cuts amount to about 6.5 percent of ECI's total 1999 workforce as reported by Hoover's Online. ECI said in a statement its cost cutting plan includes other measures, which it did not name, to enhance the efficiency of five new telecommunications companies it plans to spin-off and operate as separate and independently managed companies as of Jan. 1.

    ECI said it is in the process of securing $450 million in credit to financially assist the new companies.

    The stock closed unchanged at $14.44 ahead of the news.

  • Net Perceptions (Nasdaq: NETP)

    Net Perceptions warned Thursday that it will post a wider-than-expected loss in its fourth quarter because of higher-than-expected reorganization costs.

    The company said it expects to post a loss ranging from $9.5 million to $11 million, or 36 cents to 41 cents a share, before the amortization of intangibles and stock compensation expense. These results compare with a net loss of $2.7 million or 13 cents a share, before stock compensation expense.

    Analysts on average had expected the Minneapolis-based company to post a loss of 29 cents a share in the fourth quarter, as polled by research firm First Call/Thomson Financial.

    The company expects to report revenues for the quarter in the range of $6.3 million to $7.3 million, compared with $6.3 million in the year-ago period.

    Net Perceptions shares closed up 25 cents to $2.06 ahead of the warning.

    Reuters contributed to this report.