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Interspeed Down 20% on Restatement of Earnings

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Telecommunications equipment maker

Interspeed

(ISPD)

was down 20% in early trading after restating results Friday for three quarters as a result of incorrect recording of certain revenue.

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Total revenue for the nine months ended June 30 were $5.5 million, reduced from $14.2 million. The net loss for the same period was $12 million, up from the previously reported $8.6 million.