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Ascend Warns of Lower 3rd-Quarter Profit

September 30, 1997|Bloomberg News

Ascend Communications Inc. said its third-quarter profit will fall short of analysts' estimates because of weaker-than-expected overseas sales. The Alameda-based company said earnings for the quarter ending today will be 18 cents to 20 cents a share, compared with the 29 cents it earned in the year-earlier period. Analysts were expecting profit of 31 cents, the average estimate of 30 analysts surveyed by IBES International Inc. Ascend said it expects sales for the quarter to be $260 million to $270 million, up from $249 million in the year-earlier quarter. Most analysts expected sales of more than $300 million. Ascend shares fell $1 to $35.25 before trading was halted. The profit warning was released after the close of Nasdaq trading.

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