CHARLOTTE, N.C.-Glenayre Technologies Inc. announced it expects operating results for the second quarter to be below analysts expectations, mainly due to lower than anticipated orders and sales for paging products.
Revenues are expected to be $62 million, while operating losses will be between $10 million and $15 million before factoring in other nonrecurring charges.
Additionally, the company reported it plans to announce two strategic restructurings in the third quarter-one relating to its global activities that will result in a charge of up to $15 million and another concerning a $60 million writedown of goodwill related to its Wireless Access pager business.
