Novatel Slides 13 Percent, Q2 EPS Misses, Forecast Bleak

August 19, 2008 at 6:20 pm PT

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.

Read the rest of this post

Tagged with: Barrons, frontpage, Novatel Wireless, Tech Trader Daily, Tiernan Ray, wireless modem

comments so far. Add yours.

About Voices

Along with original content and posts from across the Dow Jones network, this section of AllThingsD includes Must-Reads From Other Web Sites — pieces we’ve read, discussions we’ve followed, stuff we like. Six posts from external sites are included here each weekday, but we only run the headlines. We link to the original sites for the rest. These posts are explicitly labeled, so it’s clear that the content comes from other Web sites, and for clarity’s sake, all outside posts run against a pink background.

We also solicit original full-length posts and accept some unsolicited submissions.

Voices is edited by Beth Callaghan.