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Technology Stocks : AVCI
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To: Bill who wrote (121)9/10/2001 9:49:09 AM
From: James Calladine  Read Replies (1) of 190
 
NOT TOO PRETTY(AVCI WARNING)

09:25 ET Avici Systems (AVCI) 2.78: Company warns for Q3; sees revenues for the qtr of $9-$10 mln vs earlier estimates of $22.5-$23.5 mln (mean $22.6 mln). AVCI sees a loss for the qtr of $0.40-$0.42 vs red ink of $0.23 anticipated by analysts. As part of cost-cutting initiative, company will reduce its workforce by 14%, or approx. 55 employees.
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