said Monday it anticipates that revenue and earnings to fall significantly short of Wall Street's expectations for the fourth quarter due to cancelled orders and an unexpected slowdown.
The Santa Clara, Calif.-based firm, which provides broadband networking systems primarily to cable companies, said it expects to post a loss of $34 million to $36 million, or 46 cents to 49 cents a share. Seven analysts polled by
First Call/Thomson Financial
expected the company to earn 6 cents a share for the period. The company earned 2 cents a share during the same period last year. Terayon said it expects revenues to be in the range of $60 million to $63 million, lower than its original forecast, but higher than the $38.7 million it reported in the year-ago period.
The figures do not reflect the possibility of a $20 million loss due to a cancelled order for one of its discontinued products. That charge would lead to an additional loss of 28 cents a share, the company said.
Share of Terayon plummeted $8.31, or 61.3%, to $5.25 in recent