Updated from 7:42 a.m.
slipped 8% early Friday as
ripped its networking gear out of Turkey.
The North Billerica, Mass., Internet gearmaker says Alcatel Teletas has ended a supply deal. The Turkish unit of the French telecommunication equipment titan has told Avici that it "will unwind the financial arrangements and decommission the routing equipment."
No reason was given for the breakup, but observers note that Alcatel has had success with its own router lineup in recent years.
Avici tried to make the parting sound accretive from a financial perspective.
"We continue to execute on our focused strategy aimed at driving to profitability and positive cash flow. Tactically, that means we will concentrate our energies on those opportunities that are consistent with that goal and provide the optimal return for each dollar invested," CEO Bill Leighton said in a press release Friday.
Avici shares fell 60 cents to $8.02 in premarket trading Friday.