Lower Rainbow Earnings Forecast

Internet security firm Rainbow Technologies Inc. said it expects to report fourth-quarter earnings below forecasts due to a slowdown in its North American business in the last month of the quarter. The Irvine-based company said it expects to report earnings of 10 cents to 14 cents a share, compared with a current analysts’ consensus of 18 cents a share. It expects to release its results Feb. 28. “The economic slowdown resulted in lower-than-expected sales of Rainbow’s secure software distribution products and Internet performance-enhancement solutions,” the company said. A higher level of investment and currency losses than anticipated also contributed to the earnings revision. Rainbow shares closed off 6 cents at $11.44 on Nasdaq.