By Sonya Rabbitte, 10 January 2002 11:12
NEWS Avaya shares fell 17 per cent yesterday after the network equipment maker said first quarter results will be poorer than expected. Shares dropped to $10.35, after Avaya said it is likely to report Q1 2002 revenues of $1.3bn, compared with analysts predictions of $1.41bn. The company also said it will post a loss of between nine and 11 cents per share, missing the seven cents per share profit analysts had forecast. The company blamed the loss on a change in its accounting methods which discontinued goodwill amortization.
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