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Non-Tech : EARNINGS REPORTING - surprises, misses & more -- Ignore unavailable to you. Want to Upgrade?

To: 2MAR$ who wrote (264)	8/12/2000 6:47:34 AM
From: 2MAR$	Read Replies (2) \| Respond to of 762

8/11...ADAP Shares Fall 25 Percent on widening loss LOS ANGELES (Reuters) - Shares of data networking company Adaptive Broadband Corp. (NasdaqNM:ADAP - news) fell 25 percent on Friday, a day after it reported a steep fourth-quarter operating loss and a financial analyst cut the stock's rating. Shares closed down 7-5/8/4 to 23-1/8, with Adaptive Broadband the fourth biggest percentage loser on Nasdaq. Volume was nearly 3 million shares. The Sunnyvale, Calif.-based company reported an operating loss of $7.67 million, wider than the $3.75 million loss from the year-ago quarter. It lost 20 cents a share on an operating basis, which it said includes a 3 cent loss for a write off on a wireless investment. Financial analysts had expected the company to post a 17 cent per share operating loss, according to First Call/Thomson Financial. In same quarter a year ago, the company posted a 13 cent loss. CIBC World Markets analyst Dale Pfau in a report downgraded his rating on the stock to hold from strong buy. Adaptive Broadband executives attributed the steeper loss to its investments in research and development and sales and marketing for its AB-Access wireless broadband division. Shares of Adaptive Broadband soared to a high of 104-14/16 in March, but in recent months dropped below 20. A year ago shares traded as low as 10-13/16.