lowered its revenue forecast for the fourth quarter and fiscal 2001 today, citing market weakness and slower than expected production of some new products.
The company's stock ended at a 52-week low, falling to $13.19 in regular-session
trading. Investors continued to evacuate after the closing bell, sending Celeritek down to $11.81 in
The company, which makes semiconductor components and subsystems for wireless networks, expects revenue of $21 million for the fourth quarter ending March 31. The company projected fiscal 2001 revenue of $88 million. On Jan. 9, Celeritek, which is based in Santa Clara, Calif., missed third-quarter expectations and
forecast full-year revenue of $92 million to $94 million
The company had revenue of $15.5 million in the year-ago fourth quarter and a top line of $48.2 million for fiscal 2000.
Analysts expect the company to earn 21 cents a share in the fourth quarter and 70 cents for the year, according to
First Call/Thomson Financial
. Celeritek also estimated first-quarter revenue of $21 million, up from $10.2 million last year.