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Technology Stocks : Westell WSTL

WSTL 6.130

+8.7%

Nov 26 3:52 PM EST

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To: Sir Auric Goldfinger who wrote (21059)	12/28/2000 5:20:41 PM
From: RockyBalboa	of 21342

Ha! Westell says lowers Q3, Q4 guidance; sees Q1 billing error can't they use calculators???? AURORA, Ill., Dec 28 (Reuters) - Telecommunications equipment firm Westell Technologies Inc.(NasdaqNM:WSTL - news) said on Thursday it expects fiscal third-quarter results to fall below the company's expectations and lowered its guidance through fiscal 2002. The company said it expects total revenues in its 2001 third quarter ending Dec. 31, 2000 to be $76 million to $78 million and expects revenues in its fourth quarter to be between $75 million and $80 million. Westell officials were not immediately available to comment on the previously expected amount. For fiscal 2002 ending Mar. 31, 2002, the company expects total revenues of $400 million to $450 million. In October, the company had said it expects revenues between $600 million to $645 million and pro forma earnings between 60 cents to 70 cents a share for fiscal 2002. The company said it identified and corrected a billing error related to a purchase order that will reduce first-quarter revenue by $1.1 million to $106.8 million with a corresponding decrease in earnings per share of 2 cents in pro forma net income to $2.6 million or 4 cents a share. On a consolidated basis that equates to a loss of $6.3 million, or a loss of 10 cents a share. Shares of Westell were up $3/32, or about 2 percent, at $40-1/2 in late trading on Nasdaq before being halted. Email this story - Most-emailed articles - Most-viewed articles

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