Tollgrade Communications, Inc. (TLGD) reported third-quarter net income of $0.92 million or $0.07 per share, compared to $1.43 million or $0.11 per share in the year-ago quarter.
Excluding the effects of non-cash charges for stock-based compensation and restructuring expenses, non-GAAP earnings per share declined to $0.08 from $0.13 in the prior year quarter.
Revenue for the quarter was $15.21 million, down from $20.58 million in the last year quarter.
Looking ahead, the company projects revenue in range of $12 million - $15 million for the fourth quarter and full year revenue between $55 million and $58 million.
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