Infoblox Shares Fall On Weak Outlook

(RTTNews) - Shares of Infoblox Inc. (BLOX) plunged 30 percent in extended trading hours on Monday after the company lowered its revenue outlook for the second quarter.

For the second quarter, Infoblox now expects revenue to be about $60 million to $61 million, loss of $0.08 to $0.10 per share, and adjusted earnings of $0.10 to $0.12 per share.

Earlier, the company expected adjusted earnings of $0.09 to $0.11 per share and revenues of $65 million to $66 million.

Analysts polled by Thomson Reuters currently estimate earnings of $0.10 per share and revenues of $65.65 million for the quarter. Analysts estimates typically exclude one-time items.

For the full year, the company now expects net revenue of about $250 million to $254 million and adjusted earnings of $0.30 to $0.34 per share.

Earlier, the company expected revenues of $270 million to $276 million and adjusted earnings of $0.44 to $0.54 per share for the year.

Analysts currently see earnings of $0.52 per share on revenues of $274.52 million for the year.

Chief Executive Robert Thomas said, "The revenue shortfall in the second quarter was primarily attributable to three factors. First, while sales through the first two months of the quarter met our internal expectations, we experienced a much weaker January than expected. Second, we had fewer $1 million-plus transactions in the quarter than we typically do. Finally, our Federal business came in below our expectations."