Sequoia Systems Inc, Marlborough, Massachusetts warns that weak orders will reduce fiscal third-quarter revenue and operating profits: turnover for the quarter just ended is expected to be 15% to 20% below levels in the prior two quarters – it did $27.5m in the first quarter and 27.9m in the second quarter; it expects an operating loss of less than $1m for the third quarter, but there will also be charges of $4m to $5m for severance and other restructuring costs; the company attributed the weakness to an order rate reduction by its largest telecommunications customer and softer demand in its Enterprise Systems and some industrial product lines.
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