Glenayre Technologies, which provides enhanced services and messaging solutions for communications providers, laid off 18 percent of its employees on Thursday.
In all, 65 employees lost their jobs.
The company said it expects revenues to increase the first half of this year, compared to 2002, and expects to break even by the fourth quarter.
Glenayre (Nasdaq: GEMS) closed up 15 cents at $1.25.
Glenayre: www.glenayre.com
