Novatel Wireless, Inc. NVTL Message Board

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Technology Stocks : Novatel Wireless, Inc. NVTL

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From: Bennitto	1/26/2006 7:05:34 PM
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Novatel Wireless Warns of Fourth-Quarter Earnings Shortfall; Shares Fall in After-Hours Trading January 26, 2006 - 18:10:23 SAN DIEGO (AP) - Novatel Wireless Inc., a maker of wireless modems, on Thursday said its fourth-quarter results will be much lower than previously forecast, although revenue is estimated to grow 45 percent for the period. Shares of Novatel plunged on the report. The stock fell 48 cents to close at $11.98 on the Nasdaq, and lost another 98 cents, or 8.2 percent, in after-hours trading. The company said it expects its earnings will range from break even to income of a penny per share, reflecting increased research and development costs and an inventory charge. Revenue is projected to reach $48.5 million. Previously, Novatel had pegged its fourth-quarter earnings at between 13 cents and 14 cents per share. On average, analysts surveyed by Thomson Financial are looking for earnings of 14 cents per share on $49.1 million in revenue.

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