Portal Software Dives 49% on Results

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Portal Software

(PRSF)

was down 49% in preopen

Island

trading. The company late Tuesday reported third-quarter earnings of 4 cents a share, 2 cents better than the Street's estimate and up from a year-ago loss of 1 cent. But investors apparently feared the company could be hurt by slowing telecommunications spending.

Portal makes software for broadband and wireless companies.