Shares in Gateway, Inc. fell 25%, from $10.25 to $7.69, after the company said its fourth quarter revenue would be lower than forecast.
The Poway, CA-based direct to consumer computer marketer expects to report revenue of $1.16 billion later this month. According to reports, the company had been expected to produce $1.39 billion during the quarter. Final results will be announced Jan. 24.
Gateway said it shipped 700,000 units during the quarter, down 15% from the quantity it shipped during the third quarter. at an average unit price of $1,660. It did not issue any guidance regarding margin on each unit shipped.
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