Originally published Thursday, November 5, 2009 at 5:07 PM
Comments (0)
E-mail article
Print view
Share
Harris Stratex Networks reports fiscal 1Q loss
Harris Stratex Networks Inc., which makes wireless equipment, said Thursday it swung to a fiscal first-quarter loss, mostly due to restructuring and other one-time charges.
The Associated Press
Harris Stratex Networks Inc., which makes wireless equipment, said Thursday it swung to a fiscal first-quarter loss, mostly due to restructuring and other one-time charges.
Sales results fell short of what Wall Street was expecting, and shares slid 6 percent in aftermarket electronic trading.
The company reported a loss of $7.8 million, or 13 cents per share, compared with a year-ago profit of $6.5 million, or 10 cents per share. Excluding some one-time items including restructuring and stock-based compensation charges, the company would have lost $800,000, or a penny per share, compared with a year-ago profit of $11.9 million, or 20 cents per share. The company was spun off from Harris Corp. earlier this year.
Revenue fell to $120 million, from $195.8 million in the same quarter a year ago.
Analysts polled by Thomson Reuters, who generally exclude one-time items from their estimates, were expecting a loss of 4 cents per share on $130.1 million in sales.
"The macroeconomic environment remains challenging and continues to constrain our revenue growth potential. However, we are seeing stabilization in North America, continued strength in Asia Pacific and even early indications of potential growth in countries hardest hit by this downturn," said President and CEO Harald Braun in a statement.
The company's current revenue expectations for the second quarter of its 2010 fiscal year range between $120 million and $130 million, below analysts' consensus estimate of $136.9 million.
Shares rose 21 cents, or 3.3 percent to close at $6.60 in the regular session, but fell 40 cents to $6.20 after-hours following the report.
E-mail article
Print view
Share
RealNetworks makes key play with Rhapsody spinoff
Alaska Air dropping Jones Soda beverages, going back to Coca-Cola
Lots of Buzz over Google latest bid at social networking
Cheaper brands of liquor taste better in tight economy
NEW - 10:04 PM
Dendreon revving up drug plants ahead of FDA decision
More Business & Technology headlines...
![]()

Entertainment | Top Video | World | Offbeat Video | Sci-Tech
general classifieds
Garage & estate salesFurniture & home furnishings
Sporting goods
just listed
3 Wheel Mobility Scooter - $450
6 Sets of New Guitar Strings by Markley, D' Addari - $39
60" Toshiba Television - $400
More listings
POST A FREE LISTING
shopping
events for Tuesday, Feb. 9
- Valentine's Offer at Eat Local
- Sales Bin-Mania at Sandylew
- Sultry Shopping and Chocolate Tasting Event a...
- February Specials at Mimisan
editors' picks
More shopping guides- Steve Kelley | My treatment of Bedard has been unfair
- Is Washington's tax exemption on bullion a gold mine?
- 747-8 soars smoothly on first outing
- Alaska Air dropping Jones Soda beverages, going back to Coca-Cola
- Super Bowl ads: Betty White, Bud Light, big laughs
- Man found shot dead in pickup truck in Seattle
- Sex, drug rumors swirl about N.Y. Gov. Paterson
- Seattle is first U.S. stop for Picasso exhibit
- Lewis-McChord soldier charged with abusing 4-year-old over alphabet lesson
- Husky Football Blog | Pac-10 expansion to get consideration over next year
- Republicans may be no-shows at health-plan summit
277 - Pac-10 expansion to get consideration over next year
249 - State Senate votes to clear way for tax increases
237 - Lee undergoes foot surgery
213 - Obama: GOP and Dems together can spur job growth
209 - Fort Lewis soldier charged with abusing 4-year-old, holding her head in water
193 - Rivals names Martin one of Pac-10's best recruiters
143 - Belltown boulevard could be completed by early next year
127 - White House mocks Sarah Palin from podium
91 - Tobacco ban in Seattle parks affirms citizen right to breathe smoke-free air
83
- Seattle is first U.S. stop for Picasso exhibit
- 747-8 soars smoothly on first outing
- City, Vulcan push higher South Lake Union height limits
- Commentary: Microsoft's creative destruction
- Snap out of your photo funk: How to make sense of all those piles of images
- Wine Adviser | Oregon's quality pinots join the bargain ranks
- Belltown boulevard could be completed by early next year
- Jerry Large | Learning not to copy China
- All You Can Eat | Portage chef Vuong Loc takes Cremant space in Madrona
- Rigorous college-prep classes skyrocketing in Washington state

