Tech. Stocks Under Pressure, Cognizant Slumps (SATS, CTSH, EPAY, BSFT, ORBK)
Echostar Corporation (NASDAQ:SATS) declined 3.72% to $27.19 after the Company released first quarter results. Total revenue increased 59% to $765 million. Net income was 127 million compared to $17 million in the first quarter of 2011. Diluted earnings per share were $1.45 compared to $0.19 in the first quarter of 2011.
Cognizant Technology Solutions Corp (NASDAQ:CTSH) plunged 18.17% to $57.0 after the Company announced first quarter results. Quarterly revenue increased 24.8% to $1.71 billion. Quarterly diluted EPS was $0.79 compared to $0.67 in the prior year quarter. Net headcount addition for the quarter was approximately 2,800. The Company expects revenue to be at least $1.79 billion in the second quarter 2012. Diluted EPS is expected to be $0.80 on a GAAP basis in the second quarter 2012.
Bottomline Technologies (NASDAQ:EPAY) slipped 14.62% to $19.21 after the Company released third quarter results. Revenues rose 13% to $55.3 million. Subscriptions and transactions revenue increased 51% to $20.4 million. Gross margin for the third quarter was $29.1 million. Net loss was $1.3 million or net loss per share of $0.04 in the third quarter.
BroadSoft Inc (NASDAQ:BSFT) went down 20.15% to $32.65 following the Company released first quarter results. Total revenue increased 29% to $38.3 million. Net income was $1.7 million or $0.06 per diluted share compared to net income of $3.7 million or $0.13 per diluted common share in the first quarter of 2011. The Company expects revenue of $36.0 to $38.0 million and earnings on a non-GAAP basis of $0.17 to $0.23 per diluted common share for 2012.
Orbotech Ltd (NASDAQ:ORBK) is up 0.38% to $10.70 after the Company declared first quarter results. Revenues were $100.2 million compared to $134.2 million in the first quarter of 2011. GAAP net income was $1.6 million or $0.04 per share compared to GAAP net income of $11.2 million or $0.31 per share in the first quarter of 2011.