Wireless and wired Internet infrastructure software developer Inktomi Corp. announced late yesterday it would have lower-than-expected sales and earnings for the quarter ended Dec. 31.

The company now forecasts a more than 120 percent year-over-year increase in sales to about $80 million, instead of its earlier prediction of $89 million to $91 million. Earnings are expected to be between one cent per share and break-even status, the company says. Analysts had expected earnings closer to 3 cents per share. Inktomi will issue its final report for the quarter on Jan 18.

California-based Inktomi is not alone in the forecast-reduction business. Close to 700 U.S. companies are expected to release final-quarter numbers that fall short of predictions, according to First Call/Thompson Financial analysts. So far 517 companies, including Lucent, AT&T, Microsoft and Intel have all issued warnings for the quarter, according to reports on the firm's research. This time last year, only 273 companies had made similar claims.  

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