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Anaren Microwave (ANEN) was down 27.6% in preopen Island trading. The maker of wireless and satellite components said after Tuesday's close that earnings in its third-quarter were 12 cents per share, flat with the previous period.

The company warned last month that earning would be in a range of 12 to 14 cents per share. For the current period, the company expects earnings of 2 to 6 cents per share vs. the Street's estimate of 12 cents.