Short Take: Clarent meets Street estimates

met Wall Street estimates as the Internet telephony equipment maker announced a reorganization. The company is splitting into three divisions, focusing on telecommunications carriers, businesses and "local access," which will allow service providers to offer consumers the ability to make phone calls over their high-speed Net access. Clarent in the fourth quarter lost $2.1 million, or 5 cents per share, on revenue of $53.2 million.