TLGD down 41% today to close at 12 7/8 on 2 M shares traded, hitting an all-time low. The previous low was the IPO price of 15 in 1995.
Knock, Knock. Any Bottom Feeders here? Any thoughts???
David
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Tollgrade warns of unexpectedly low Q3 EPS
Sunday, September 27, 1998 11:02 PM
CHESWICK, Pa., Sept 27 (Reuters) - Tollgrade Communications Inc. Sunday warned it expects to report $0.16 to $0.18 per share earnings in the third quarter, well short of market expectations, due in part to the strikes at the regional Bells.
The First Call consensus forecast had predicted $0.32 per share profits in the third quarter, compared to $0.27 a year earlier.
Higher than expected inventories at Ameritech Corp. (Nyse:AIT) also contributed to the earnings shortfall, the company said in a statement.
Tollgrade predicted its net sales would total about $10 million in the third quarter. The company said it anticipates reporting final results on October 15.
"The labour strikes at Bell Atlantic, US West, and Southern New England Telephone disrupted ongoing and established network expansion and maintenance programmes, and exacerbated seasonally lower sales, all of which had an impact on Tollgrade's sales to those companies," the statement said.
Tollgrade designs and supports test access and test extension products for the telecommunications and cable television industries.
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