Network equipment maker Sandvine Corp estimated smaller-than-expected revenue for the second quarter as several large projects were delayed.
The company, whose customers include Spanish telecom company Telefonica SA and U.S. cable TV provider Comcast Corp, said it has been renegotiating a global supply deal with a multinational customer.
Sandvine did not name the customer.
"Second-quarter revenues were below our expectations as certain large purchase decisions continue to be pushed out," Sandvine CEO Dave Caputo said in a statement on Thursday.
Sandvine estimated revenue of $18.0 million to $18.5 million for the second quarter ended May 31. Analysts had predicted $22.1 million, according to Thomson Reuters I/B/E/S.
Sandvine, which adopted a shareholder rights plan with a 20 percent trigger in March, posted revenue of $24 million a year earlier.
Shares of the company closed at C$1.42 on Wednesday on The Toronto Stock Exchange.
