Gateway shares took a dive yesterday as a US analyst warned that the company's fourth quarter earnings would be below expectations.
The PC maker?s shares dropped nearly nine per cent to just over 56 cents following the warning.
In a report, Piper Jaffray analyst Ashok Kumar said Gateway?s PC shipments should rise by around 30 per cent in the fourth quarter, 10 per cent less than the company itself had predicted.
For its third quarter this year, Gateway reported record PC shipments with a 34 per cent increase over the same quarter the year before.
Net income for the third quarter was $80.6 million (#50.3 million), compared to a net loss of $107 million in the same quarter last year.
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