Tallahassee, FL 11/1/11 (StreetBeat) Novatel Wireless (NASDAQ: NVTL) shares are trading sharply lower Wednesday morning as a disappointing Q4 forecast offsets better-than-expected results for the third quarter.The wireless modem company posted Q3 revenue of $113.3 million, up from $75.6 million a year ago, down from $118 million in Q2, and a bit ahead of the Street at $113 million. The company roughly broken even on a non-GAAP basis, while the Street had expected a loss of 8 cents a share.
For Q4, the company expects revenue of $105 million to $120 million, with EPS ranging from a loss of 10 cents a share to break even. The Street had been expecting $122.7 million and a profit of 2 cents a share.
NVTL is down 72 cents, or 17%, to $3.50.
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