Bargains for Under $25 HP Envy 34 All-in-One PC Review Best Fitbits T-Mobile Data Breach Settlement ExpressVPN Review Best Buy Anniversary Sale Healthy Meal Delivery Orville 'Out Star Treks' Star Trek
Want CNET to notify you of price drops and the latest stories?
No, thank you

Advanced Fibre reinforces 4Q view

Advanced Fibre Communications reiterated its fourth-quarter sales and earnings targets after the bell Tuesday, hoping this reassurance would help revive its struggling stock.

Advanced Fibre (Nasdaq: AFCI) shares closed off $2.50, or 11 percent, to a 52-week low of $20 ahead of the statement.

Company officials said it expects to record sales of between $115 million to $118 million, roughly flat with the third quarter, and earnings of 16 cents a share.

First Call Corp. consensus is looking for 16 cents a share in the quarter.

Last quarter, it earned $12.9 million, or 15 cents a share, on sales of $114.1 million.

The stock moved as high as $89.38 in March before falling to Tuesday's low.

Ten of the 13 analysts tracking the stock maintain either a "buy" or "strong buy" recommendation.

Analysts are expecting a profit of 73 cents a share in fiscal 2001.