PHOENIX (AP) — Satellite and broadcast network equipment maker Radyne Corp. said Tuesday it hired Needham & Co. to help explore strategic options, including a possible sale.
The company said it is in talks with ''various interested parties,'' but didn't set a time frame for concluding the process.
Radyne also forecast 2007 earnings of 55 cents to 59 cents per share on sales of $141 million and $144 million. Analysts polled by Thomson Financial expect slightly higher sales of $145.4 million.
The company said the ''severe financial difficulties'' of one of its European customers reduced its earnings by 2 cents per share.
Shares fell 19 cents, or 2 percent, to $9.16 in morning trading. In the past 52 weeks, the stock has traded between $7.96 and $11.41.