Novatel Wireless, which sells laptop cards and embedded modems, warned it would miss its first-quarter financial forecast. The company reduced its first-quarter earnings estimate to $91 million from $110 million and significantly cut its per-share earnings expectations.
Novatel said it was impacted by rivals' less expensive products at Verizon Wireless stores, and it missed shipping a new modem to a major operator customer.
To read more about Novatel's profit warning:
- check out this RCR Wireless News article