Terayon (TERN) reported a 36% decline in third-quarter revenue, citing challenging economic conditions as the principal cause. The broadband access company posted a pro forma loss of 31 cents a share in the quarter, narrower than the consensus estimate of a loss of 35 cents.
Santa Clara, Calif.-based Terayon said revenue totaled $80 million in the latest quarter, down from $125 million a year ago, and predicted fourth-quarter revenue would be sequentially flat to up $2 million. The company expects to post a fourth-quarter loss of 22 cents to 25 cents a share, narrower than expected.
The company's shares rose in early trading Wednesday, gaining 3.4% to $10.60.
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