STOCKS TO WATCH: Crossroads Systems, Pumatech, Razorfish and Sycamore Networks

Crossroads Systems shares may lose ground Friday after the maker of storage network equipment posted a loss of $8 million, or 30 cents a share, on sales of $4.8 million.

First Call Corp. consensus expected it to lose 21 cents a share in the quarter.

After closing off 1 11/16 to 10 15/16 ahead of the earnings report, Crossroads shares fell to 8 1/4 in after-hours trading.

"We faced tough challenges this quarter that caused us to take a hard look at the business," said CEO Brian Smith in a prepared release. "Although we believe the core SCSI router business will continue to grow, it is not growing at a rate we are satisfied with."

The software developer should be active after it beat the Street in its fourth quarter, losing $3.6 million, or 8 cents a share, on sales of $9 million.

First Call Corp. consensus expected Pumatech to lose 11 cents a share in the quarter.

Its shares closed up 2 7/8 to 23 7/16.

The $9 million in sales represents a 52 percent improvement from the year-ago quarter when it earned $160,000, or 1 cent a share, on sales of $5.9 million.

For the fiscal year, Pumatech lost $7 million, or 20 cents a share, on sales of $30.8 million.

Its shares moved up to a 52-week high of 102 7/16 in February after falling to a low of 2 11/16 last August.

Razorfish investors will be busy Friday after the Internet consulting company said President Mike Pehl had resigned to spend time with his family and explore the next phase of his professional career.

Pehl, who joined the company as chief operating officer in November 1999 after his company was acquired by Razorfish, will have an ongoing relationship with the company through a consulting agreement, the company said.

"Working at Razorfish has been one of the most exciting and rewarding experiences of my career," Pehl said in a prepared release. "My decision to leave Razorfish was difficult and relates to personal goals at this stage of my career."

Razorfish shares closed off 15/16 to 14 9/16 ahead of the announcement.

Sycamore shares figure to move higher Friday after the network-equipment maker topped analysts' estimates in its fourth quarter, pocketing $20.4 million, or 8 cents a share, on sales of $90.4 million.

First Call Corp. consensus expected it to earn 6 cents a share in the quarter.

Its shares closed off 1 7/8 to 158 ahead of the earnings report.

The $90.4 million in sales marks a 698 percent jump from the year-ago quarter when it lost $6.4 million, or 4 cents a share, on sales of $11.3 million.

Its shares raced up to a 52-week high of 199 1/2 in March before plunging to a low of 47 1/4 in April.