| Earnings Scorecard |
| Actual | Estimated* | Year-Ago |
| $0.00 | $0.00 | $0.12
|
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Copper Mountain Networks (CMTN Quote - Cramer on CMTN - Stock Picks) met analysts' slightly lowered expectations for the fourth quarter, but warned that it expects a "substantial" sequential decline in revenue for the upcoming period.
Shares of Copper Mountain ended the
Nasdaq regular session at $7.81, but tumbled to $6.52 in after-hours
Island activity.
In the fourth quarter ended Dec. 31, Copper Mountain, a DSL equipment maker, earned $91,000, breaking even on a per share basis. The bottom line matched Wall Street's expectations, according to
First Call/Thomson Financial, but fell from the income of $6.7 million, or 12 cents a share, in the year-ago period. The results in the latest quarter exclude stock-based compensation costs, the amortization of purchased intangibles and certain charges.
Revenue for the fourth quarter rose to $47 million from $44.6 million for the same period of the prior year, an increase of 5.5%, but fell short of the $51.6 million analysts were expecting.
Copper Mountain said "we expect that our challenges will increase in 2001. We expect a substantial sequential decline in the first quarter of 2001. Unfortunately, because of these rapidly changing conditions, we have very limited visibility on our customers' future buying patterns at this time."
The company didn't specifically address earnings projections, but analysts expect Copper Mountain, which is based in Palo Alto, Calif., to again break even in the first quarter, while reporting revenue of $50.9 million.