Telecommunications network developer
reported lower results than expected for the third quarter, due to weakened demand for the company's equipment from telecommunications providers.
Paradyne reported a loss of 2 cents a share. The
First Call/Thomson Financial
four-analyst consensus was for a loss of 1 cent a share. The company reported earnings of 9 cents a share in the year-ago period.
Paradyne's loss excludes deferred stock compensation, goodwill amortization and charges related to the write-down of inventory
The company reported revenue for the third quarter of $55.7 million, including a one-time expense reduction of $6.7 million, compared with $57.7 million in the third quarter a year ago.