DULUTH, GA. -Antec Corp. Friday lowered its earnings outlook for the fourth quarter based on AT&T Broadband's decision to suspend equipment buys. The vendor said business should rebound early next year, however.
Antec said revenue in the period would be $180 million to $190 million and its net loss would be 9 cents to 13 cents per share. Antec had said in October it figured to earn 12 cents to 16 cents per share on $250 million in revenue.
For 2001, Antec estimates earnings of 60 cents to 70 cents per share on revenue of $1 billion to $1.1 billion. Analysts had forecast $1.11 per share in 2001 earnings.
Friday afternoon, Antec's stock price was $8.44, down 31 cents.