Radisys reported a 35% plunge in quarterly sales, like the Hillsboro company recently predicted when it replaced its CEO.
Radisys reported a 35% plunge in quarterly sales, like the Hillsboro company recently predicted when it replaced its CEO.
The electronic components maker said sales will continue falling in the current quarter, and Radisys took a $29.7 million writedown applied to some intangible assets in recognition of the company’s evaporating market value.
“The macro telecommunications spending environment remains constrained and impacted our third quarter revenue,” new chief executive Brian Bronson said in a written statement.
Read more at OregonLive.com.
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