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First Albany Cuts Alvarion Estimates


First Albany cuts WiMAX infrastructure equipment company Alvarion (ALVR) estimates and keeps a neutral rating.

Analyst Frank Marsala says the company issued second-quarter guidance of 4 cents to 6 cents non-GAAP loss on revenue of $46 million to $47 million. He was looking for 2 cents earnings per share on $56.4 million in revenue.

He notes the company says its revenue shortfall was due to project delays at a few customers and slower-than-expected installations of certain compact cellular projects. He says Alvarion did not provide geographic, product, or customer breakdown, but did say that shortfall issues were customer-specific and spread out over its markets.

Marsala cuts his 24 cents 2005 earnings per share estimate to 10 cents and $249.5 million revenue to $226.5 million.


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