AST Research Inc.: Shares of the computer...
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AST Research Inc.: Shares of the computer maker fell 8% Thursday after the company acknowledged that its quarterly revenue will be lower than expected.
Bruce Edwards, chief financial officer, told Wall Street analysts that the company’s revenue for the fourth fiscal quarter, which ends June 30, will be $620 million, about 5% short of the $650 million projected by analysts. Earnings are expected to be in a range of 40 cents to 50 cents a share.
In response, the company’s stock fell $1.25 a share to close at $14 in Thursday’s Nasdaq trading.
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