Shares of Melville, N.Y.-based Nu Horizons Electronics Corp. (Nasdaq: NUHC) are down following news that the distributor of advanced technology active components and systems lowered its quarterly profit despite a rise in sales.

The net income for the first quarter of fiscal 2007 ended May 31 was $1.81 million, or $0.10 per share, compared with net income of $3.18 million, or $0.17 per share, during the same three months of 2006, the company reported before the start of trading. Three analysts polled by Thomson Financial were projecting earnings of $0.14 per share.

Shares of Netlist Inc. (Nasdaq: NLST) fell $0.86, or 14.4%, to $5.11 in after-hours trading Monday after the memory subsystems manufacturer issued a lower-than-expected revised first-quarter guidance. Irvine, Calif.-based Netlist said it now expects to report earnings per share of $0.02 to $0.03 per share on revenue of $37 million to $38 million. The firm had previously issued guidance of $0.07 to $0.08 per share on revenue of $40 million to $42 million. Three analysts polled by Thomson First Call were expecting earnings per share of $0.08 on revenue of $41.2 million for the quarter ended March 31. Netlist CEO Chuck Hong cited operating expenses and decreased customer demand for the revised guidance.