Fiber-optic equipment maker
warned of weaker-than-expected third-quarter results due to order delays.
The company now expects sales to be in the range of $31 million to $35 million, down from the initially estimated $36 million to $39 million. The lower sales will result in a loss of 5 cents to 8 cents a share, compared with the previous estimated range between a loss of 2 cents and earnings of 2 cents a share.
"A number of the shipments we anticipated for the quarter will shift into the fourth quarter of this year and beyond," the company said in a statement.
The postponement will lift its fourth quarter, the company said, with sales and orders expected to be greater than those in the two latest quarters.
Newport releases its quarterly results on Oct. 29.
Shares were down $1.59, or 9%, to $16.24 in early trading Wednesday.