High-Speed Data Provider Paradyne Down 44% on Earnings Shortall Due to Weak Customer Demand - TheStreet

Paradyne Networks

(PDYN)

, which provides high-speed data connections, fell 44.4% in preopen

Island

trading after the company said it would miss the Street estimates for third-quarter earnings due to weaker demand from customers.

The company said it would take a $30 to $35 million charge for an inventory write-down, and expects to post results between breakeven and a loss of 2 cents per share. The

First Call/Thomson Financial

estimate called for a 12-cent profit. The company also expects fourth-quarter and full-year results to be affected.