Business Services Industry
Stock Falls for Dallas Digital Subscriber Line Equipment Maker.(Knight Ridder/Tribune Business News)
Knight Ridder/Tribune Business News, January, 2001 by Bajaj, Vikas
Jan. 4--Efficient Networks Inc., whose stock has been sent into a tailspin for months by negative announcements from customers and competitors, hit a road bump of its own making this week.
The Dallas maker of digital subscriber line equipment fell more than 22 percent, or $2.78, Wednesday to close at $9.53 after announcing that fiscal second-quarter revenue would be between $100 million and $102 million, not the $152 million officials had projected.
The news from the world's largest DSL modem and router maker kept it from enjoying a rare rally that swept up most telecommunications stocks.
Two key customers didn't come through with orders that Efficient needed to meet its goals for the fiscal second quarter ended Dec. 31. The company declined...
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