, a provider of DSL technology and telecommunications access products, expects revenue for the third quarter ending Dec. 31 to come in below the company's previous expectations.
The company now expects third-quarter revenue of $76 million to $78 million. In addition, Westell lowered its expectations for the fourth quarter and 2002 fiscal year. The company forecast fourth-quarter revenue of $75 million to $80 million. For the fiscal year ending March 31, 2002, the company expects revenue of $400 million to $450 million.
Westell said "we believe, like many other companies in the telecommunications industry, that weakening macroeconomic conditions will impact our business. Accordingly, we are revising our near-term expectations as well as those for our next fiscal year."
The company, which is based in Aurora, Ill., also had to correct a billing error that will reduce reported first-quarter revenue and earnings. The revision will lower first-quarter revenue to $106.8 million and will cut income before items to 4 cents a share, from previously reported earnings of 6 cents a share.
Shares of Westell ended the
regular trading session at $4.50, but fell to $3 in after-hours