Needham & Company Suspends Xtera Communications (XCOM) Rating Following 'Ugly' June Qtr

August 12, 2016 6:38 AM EDT
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Needham & Company suspended its rating on Xtera Communications (NASDAQ: XCOM) following an "ugly" June report.

Analyst Alex Henderson commented, "XCOM reported an ugly quarter as a result of liquidity constraints and supply constraints that inhibited sales in the quarter and are likely to persist through the Sept Q. The company is working with lenders to set up a new credit line and has started to "explore strategic options." Given the unforecastable nature of the debt negotiations and the results of the strategic option exploration, we consider the operations nearly impossible to forecast. Without a basis to forecast, we are suspending our rating."

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