Comverse Technology

(CMVT)

was down 10.8% in preopen

Island

trading. After Tuesday's close the telecommunications-software maker posted fourth-quarter earnings of 41 cents per share, beating the

First Call/Thomson Financial

estimate of 39 cents and the year-earlier 30 cents.

The company also said it expects fiscal 2001 earnings of $1.78 per share and revenue of $1.52 billion. The Street was expecting $1.78 per share on revenue of $1.69 billion.