ORLAND PARK, Ill.—Andrew Corp. has lowered its fourth-quarter guidance, attributing the fall in revenue and margins to carrier consolidation and delays in commitments to next-generation technology.
The company revised its projected fourth-quarter revenue to between $450 million and $470 million as against an earlier estimate of between $460 million and $490 million. In earnings per share, the revision amounted to a loss of 4 cents to 8 cents compared with an earlier anticipated loss of 4 cents and 7 cents.
“Despite these current issues, the long-term market fundamentals of the wireless infrastructure industry continue to be positive,” said Ralph Faison, president and chief executive officer of the company. “We are focused on enhancing our market-leading position and improving financial performance for fiscal 2005.”
