On Air Now

Listen

Listen Live Now » 92.9 FM Lansing, Michigan

Weather

Current Conditions(Holt,MI 48842)

More Weather »
40° Feels Like: 35°
Wind: ENE 9 mph Past 24 hrs - Precip: 0”
Current Radar for Zip

Today

Mostly Sunny 56°

Tonight

Mostly Cloudy 38°

Tomorrow

Mostly Cloudy 60°

Alerts

Infoblox estimates weak second-quarter, shares fall

(Reuters) - Network equipment maker Infoblox Inc estimated second-quarter revenue below analysts' average forecast, citing disappointing business with the U.S. government and fewer $1 million-plus transactions.

The company's shares fell 29 percent to $23.42 in extended trading.

"While sales through the first two months of the quarter met our internal expectations, we experienced a much weaker January than expected," Infoblox Chief Executive Robert Thomas said in a statement.

The company forecast adjusted earnings of 10-12 cents per share on revenue of $60-$61 million for the quarter ended January 31.

Analysts on average were expecting earnings of 10 cents per share on revenue of $65.7 million, according to Thomson Reuters I/B/E/S.

(Reporting By Lehar Maan in Bangalore; Editing by Don Sebastian)

Comments