Efficient Networks Sees Revenue Shortfall, Blames Lack of Orders

Efficient Networks(EFNT Quote - Cramer on EFNT - Stock Picks), a provider of digital subscriber line equipment, said it expects lower second-quarter revenue, citing a lack of anticipated orders from two major customers.

The company, which is based in Dallas, expects second-quarter revenue of $100 million to $102 million, representing an increase of more than 280% from the $26.4 million recorded in the same period last year. But according to a poll by First Call/Thomson Financial, three analysts are expecting second-quarter revenue of $151.9 million.

The company said excluding revenue from these two major customers, second-quarter revenue from other customers grew more than 25% on a sequential basis. Efficient didn't disclose the names of the two customers.

Shares of Efficient Networks closed at $12.31 in regular session trading on the Nasdaq, but recently tumbled to $8.69 in after-hours Island activity.