Encryption and network security company Cylink Corp, which has already warned of poor third quarter results, now says that revenue for the quarter will amount to about $12.1m, well below the $18m recorded in the second quarter. But that fact is now meaningless as the company says its accountants are reviewing its revenue recognition practices and – from what they know now – the company will have to restate revenue for the first and second quarters. The first quarter revenue will likely fall from $15.8m to $10.8m, while the second will shift from the aforementioned $18m to $11.3m. Revenues for 1997 are not expected to be impacted by the review. Cylink promises a detailed report on all three quarters in about three weeks.
