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PairGain Technologies announced earnings for the fourth quarter would fall "significantly" under current market expectations, following the loss of a major T1 access contract with a regional Bell operating company. The company also cited price erosion in the T1 access sector for the expected fourth quarter shortfall. PairGain was expected to report a profit of 16 cents per share in the fourth quarter, according to First Call. Additionally, the Tustin, California-based company named Michael Pascoe as its new chief executive. Pascoe was formerly president of Newbridge Networks' US operations. PairGain's CEO Chuck Strauch will remain board chairman.