Scientific-Atlanta’s bookings for products such as set top boxes ...
Scientific-Atlanta’s bookings for products such as set top boxes declined sequentially last quarter, as sales missed estimates of some analysts. A 10% decrease in subscriber bookings was partly offset by a 12% surge at the transmission business. Sales and…
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profit in the first quarter ended Sept. 30 each rose about 8% from a year earlier, though backlog declined. Revenue of $490 million was less than the $514 million anticipated by American Technology Research’s Rob Sanderson and below Oppenheimer & Co. analyst Lawrence Harris’s $536 million forecast. “Our customers have not yet finalized their spending plans,” said Wallace Haislip, senior vp-finance & operations, on a conference call. Scientific-Atlanta, which has been urged by analysts to buy back stock, said it couldn’t do so because the company has “material non- public information.” The company wasn’t more specific in a statement or on the teleconference, but Scientific- Atlanta said it expected a resolution by Dec. 31. Separately, the company said it got an order to sell NTL a new set-top box. Work on the product is expected to be completed next year.