OPNET Technologies Shares Got Destroyed: What You Need to Know
Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of OPNET Technologies (NAS: OPNT) are getting destroyed today by as much as 25% after the company reported quarterly earnings last night.
So what: The network performance solution provider reported second-quarter revenue of $41.9 million, which gave way to $0.24 earnings per share. Revenue came in short of analysts' estimates while net income was right on target with expectations.
Now what: Revenue in the third quarter is expected in the range of $44 million-$49 million, below the consensus of $47.1 million. The company's board has also approved a one-time special dividend of $0.85 per share, in addition to its $0.12 quarterly dividend. Investors are disappointed as the company also warned that it may have trouble sealing some deals in the current quarter.
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