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Industry: Email Alert RSS FeedAdaptive Broadband lowers expectations, Western Multiplex to reevaluate acquisition.
RCR Wireless News, January, 2001 by Smith, Hilary
Sunnyvale, Calif.-based Adaptive Broadband Corp. lowered its revenue expectations for the fiscal second quarter ended Dec. 31, calling into question its pending acquisition by Western Multiplex Corp. and causing its shares to dip nearly 50 percent immediately following the news.
The revenue adjustment was due in large part to a deferral of $13 million in contracted shipments of Adaptive Broadband's AB-Access product to a major domestic customer. Adaptive Broadband estimates it now will realize approximately $8 million in revenues for the quarter, compared with $2 million for the same period last year.
In the company's first-quarter financial results announcement, it indicated a revenue growth goal greater than 30 percent each quarter, which, if...
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