Telecom equipment maker
on late Thursday warned third-quarter revenue and profits would fall below Wall Street's expectations.
The Naperville, Ill.-based company, blaming lower-than-expected revenue from North American wireless service providers, now expects third-quarter revenue of between $452 million and $460 million. It predicts non-GAAP earnings of between 2 cents and 3 cents per share, excluding equity-based compensation, amortization of intangibles and previously announced restructuring charges of $6 million.
Analysts polled by Thomson Financial expect earnings of 6 cents a share on revenue of $501.6 million.
The company said it expects non-GAAP gross profit margins are expected to range from 31% to 32%.
The company is slated to report earnings on Oct. 23. Shares were losing 50 cents, or 5.2%, to $9.08 in recent after-hours trading.