Celeritek

(CLTK)

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

Nasdaq

trading. Investors continued to evacuate after the closing bell, sending Celeritek down to $11.81 in

Island

activity.

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.