(MENAFN- ProactiveInvestors - N.America) Shares of network automation company Infoblox Inc (NYSE:BLOX) plunged 14.84 per cent this morning, a day after saying its fourth quarter loss widened and its full-year financial outlook missed analyst estimates.
Its stock fell 14.84 per cent to $19.92 apiece in New York on Friday. The company went public in April, selling 7.5 million shares priced at $16 each.
The Santa Clara, California-based company offers virtualization, cloud-computing and Internet traffic management services.
Infoblox's net loss widened to $4.34 million or 10 cents a share, compared to a year-prior loss of $2.11 million, or 20 cents a share.
Excluding special items, the company earned $700,000 or one cent per share, versus $200,000, or breakeven per share, a year-earlier.
Revenue climbed to $45 million, up 14 per cent from $39.3 million in the year-ago period.
"We are very pleased with our fourth quarter financial results," said president and CEO, Robert Thomas.
"Our success in the market is testament to our highly-differentiated product portfolio, strong competitive position and the business-critical need for network automation solutions."
Gross margin narrowed to 77.1 per cent from 78.2 per cent, as cost of sales rose 21 per cent in the quarter.
For the first quarter, which ends October 31, the company expects to see revenues in the range of $45 to $46.5 million, with per share adjusted earnings at breakeven.
For fiscal year 2013, the tech company predicts revenue of around $195 to $202 million, with per-share adjusted earnings of four to seven cents.
Analysts polled by Thomson Reuters expect earnings of 11 cents per share for the year, on sales of $194.8 million.Â
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.