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Tut Systems to miss 4Q estimates

Tut Systems Inc. (Nasdaq: TUTS) announced Thursday that fourth quarter revenue will miss estimates due to tightening in the capital markets, which have affected some of Tut's service provider customers.

Shares in the company, which provided of broadband systems for multi-tenant buildings, closed down 6.44 to 10.69 Wednesday.

Tut Systems is now targeting revenue of between $15 million and $18 million for the fourth quarter of 2000, compared with $10.6 million a year ago. Analysts on average expect the company to post earnings of 17 cents a share, compared with a loss of 13 cents a share a year ago, according to First Call.