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Novatel (NVTL) managed to post guidance that was below expectations. Expectations must have already been poor. The company’s stock is off 60% over the last year, and should fall further today.
For the third quarter, Novatel expects a loss of $.03 to breakeven per share, on revenue of $80 million to $85 million. According to Reuters, "Analysts were expecting earnings of 18 cents a share, on revenue of $96.2 million, for the period."
Last year, the company’s CEO, Peter Leparulo, made $462,000 as a base. His contract calls for that to be the minimum again this year. His total compensation for 2007 was over $3.5 million.
Since the company has lost $500 million in market cap in the last twelve months, Leparulo may be doing too well.
Douglas A. McIntyre
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