Fore Systems Inc reported preliminary fourth-quarter results that fall well short of analysts’ expectations. The Pittsburgh-based ATM networking technology company expects to record earnings of $9m to $10m – or between $0.09 and $0.10 per share – before a one-time litigation settlement charge incurred by its Alantec subsidiary. Analysts were expecting earnings of $0.15 per share. Fore, like many others, blames slower sales in international markets as well as increased competition and lack of growth in the networking industry – according to whose numbers, we’d like to know – in general for its disappointing results. Fore’s stock responded promptly to the news by taking a dive of 33% in early trading before recovering to finish the day down $1.938, or 12.9%, at $13.063.
