Novatel Slides 13 Percent, Q2 EPS Misses, Forecast Bleak

Wireless modem maker Novatel Wireless (NVTL), with a market cap of $250 million, is getting crushed after hours, falling $1.10, over 13 percent, to $7.30, after the company this evening reported sales of $89 million. Its second quarter ended June 30, ahead of an average estimate of $87.8 million, but non-GAAP profit per share of just three cents, well shy of the 15-cent estimate, excluding stock options expense.

The results reported are a preliminary estimate, as the company is withholding final results until it completes its accounting review.

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