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To: nolimitz who wrote (17495)	9/21/2001 11:23:33 AM
From: Frederick Langford	Respond to of 208838

ONI Systems Plummets as it Warns of Wider Loss By TSC Staff 09/21/2001 08:14 AM EDT Airlines, Brokerages Bearing Brunt of Market's Wrath After Last Week, Investors May Expect Too Much From Wireless Game Makers Swear Off Violence, but Will It Last? ONI Systems (ONIS:Nasdaq - news - commentary - research) was down 25.3% in preopen Instinet trading after the optical network equipment provider said results for the rest of the year will fall below expectations. In a release, ONI said it expects a third-quarter loss of 17 to 21 cents per share on revenue of $40 million to $50 million. Analysts were expecting a loss of 4 cents, according to Thomson Financial/First Call. Fourth quarter revenue is expected to be $40 million to $50 million, compared with earlier forecasts of $85 million to $90 million, ONI said. The company said it no longer expects to reach breakeven in the fourth quarter. Analysts were expecting a profit of 1 cent per share for the fourth quarter. ONI said it will record $50 million to $60 million in charges in the third and fourth quarters for restructuring costs.