Communications provider Allegiance Telecom (ALGX) was up 7.2% in early trading after the company said its third-quarter earnings would be in line with previous estimates, despite slightly lower revenue.
Allegiance said it expects revenue for the third quarter of about $135 million, below analysts' expectations of $147.2 million but up 9% from the second quarter and 69% from the year-ago period.
The consensus estimate calls for a third-quarter loss of 97 cents a share, according to Thomson Financial/First Call.
The company expects revenue for 2001 to be about 5% lower than previous estimates of $550 million, or about $522.5 million. Allegiance said 2002 revenue would be at least $800 million.
Analysts were expecting the company to have revenue of $545.5 million for 2001 and $900.4 million for 2002.