Eric Savitz, Blogger and Columnist, Barron's

Network Equipment Tech Warns; Stock Crumbles

June 6, 2008 at 10:12 am PT

Network Equipment Technologies (NWK) last night warned that results for its fiscal first quarter ending June will be below Street expectations. The company sees revenue for the quarter of $16 million to $20 million; the Street had been looking for $26.2 million.

The company blamed “a shortfall in revenue from government programs.” CEO Nicholas Keating said in a statement that “it has become apparent that at least in the near term we won’t receive the volume of orders we had previously expected.”

Read the rest of this post

Tagged with: Barrons, Eric Savitz, frontpage, Network Equipment Technologies, Tech Trader Daily

comments so far. Add yours.

About Voices

This is a section of the AllThingsD Web site featuring posts that have been curated from around the Web: pieces we’ve read, discussions we’ve followed, stuff we like. Five posts are included here each weekday, but only the headline and the first two sentences. We link to the original site for the rest. The section is explicitly labeled, so it’s clear that content comes “from other Web sites.”

We also solicit original full-length posts and accept some unsolicited submissions. Voices is edited by Beth Callaghan.