ATYT Down 12% on Q3, Q4

Posted on Friday 30 June 2006



ATYT traded down almost 12% on Thursday, after the company announced mixed Q3 results and warned that Q4 revenues would be lower than expected. For Q3, the company announced that it earned 16 cents per share, compared to analyst expectations of 15 cents per share. Revenues came in about 10 million light of expectations for Q3. For Q4, the company said that it expects revenues of between $620 - $660 million dollars, lower than analyst expectations of $698.4 million dollars. Volume was extremely heavy on Thursday, with over 28 million shares of the stock changing hands, compared to a normal daily average of just over 6.5 million shares traded.



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