Next Level Communications
warned of a wider-than-expected fourth-quarter loss, citing reduced revenue from its key customer
and slower-than-anticipated customer development in Korea.
Shares of the company lately tumbled 43% to $6.15 in after-hours
activity, down from the Thursday regular session closing price of $10.81 on the
The Rohnert Park, Calif., broadband equipment maker expects a fourth-quarter loss, excluding items, of about 22 cents a share, compared with a loss of 21 cents a share last year. Analysts polled by
First Call/Thomson Financial
expect a fourth-quarter loss of 12 cents a share.
The company also sees a loss of 72 cents a share for fiscal 2000, compared with a loss of 99 cents a share last year. Analysts are calling for a loss of 63 cents a share.
Next Level said it expects revenue for the fourth quarter of about $31 million, compared with $25.2 million in the same period last year, and full-year revenue of about $150 million, up from $57.6 million reported in 1999.
Next Level, which said it plans to revise its guidance for fiscal 2001, also said it expects revenue for 2001 to be "lower than previously estimated," due to "concerns about slower-than-anticipated customer deployment."