Shares of Calabasas Company Fall 21%

Shares of Diana Corp., a Calabasas-based maker of communications equipment, fell 21% to $17.25 per share last week on the news that the company expects to post a loss in the fiscal third quarter.

The company said it expects to post a fiscal third-quarter loss of $1.5 million due to added research and development costs of $750,000 to $1 million at its Sattel Communications telecommunications unit. The projected loss also includes restructuring charges associated with the division of the company into two separately traded companies.

Revenues at the Sattel unit are expected to be about $4.4 million.