lowered its fourth-quarter revenue and earnings estimates, citing a slowdown in order rates.
The communications equipment company, which is based in Huntsville, Ala., said it expects fourth-quarter earnings of $6.5 million to $8 million, and earnings per share of 16 cents to 20 cents. Adtran earned 43 cents a share in the same period last year. According to
First Call/Thomson Financial's
11-analyst survey, Wall Street expects Adtran to earn 55 cents a share in the quarter.
The company also said it expects revenue for the quarter of $110 million to $115 million, compared with $127.3 million in 1999. Four analysts expect fourth-quarter revenue of $135.1 million.