Applied Innovation Plummets on Warning - TheStreet

Applied Innovation Plummets on Warning

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Applied Innovation (AINN) was down 26% in early trading after being halted by Nasdaq before the opening bell.

The network hardware and software company said this morning its second-quarter revenue would be at least 23% lower than the year-ago period. The company announced it was cutting 15% of its workforce and it expects earnings for the quarter, including severance costs, to be break-even.