Westell Technologies (WSTL) - Get Report was down 37.5% in preopen Island trading following its announcement after close that it now expects third-quarter revenue of $76 million to $78 million, compared with $92.3 million, which was expected by analysts polled by I/B/E/S.

The telecommunications equipment company also lowered its revenue expectations for the fourth quarter and for 2002. Westell also said it corrected a billing error. The adjustment will lower first-quarter revenue to $106.8 million and will cut earnings before items to 4 cents a share from the previously reported 6 cents.