Hardware and software provider Network Computing Devices (NCD) said it expects to post a fourth quarter net loss of $5 million, more than double its previous estimate of $2 million.
The thin client specialist attributes the shortfall to lower than expected revenue, lower gross margins because of its current product mix, and a write off of about $1 million in inventory.
Last month, NCD said that weak sales and uncertainties over the Year 2000 issue would hit profit, and analysts polled by researcher First Call cut their consensus estimate to a loss of 20 cents per share.
However, the anticipated losses are now in line with last year's losses of $5.6 million or 35 cents per share, following $2.4 million in acquisition-related charges and a $3.2 million loss related to operations. This reflects an expected sharp decline in the sale of third-party software.
NCD expects to announce its financial results today.
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