Why Infoblox Shares Got Crushed
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What: Shares of Infoblox (NYS: BLOX) got crushed today, down by 18% at the low, after the company reported earnings and next year's guidance, the latter which fell short of hopes.
So what: Fourth quarter revenue totaled $45.1 million, up 14% from a year ago. Adjusted net income was $0.7 million, or $0.01 per share. Relative to consensus estimates, the top line came out better than expected and the bottom line was right on target.
Now what: CEO Robert Thomas said he was "very pleased" with the results, but clearly investors don't feel the same way as shares sell off. Next year's outlook is likely the culprit for the pessimism. Fiscal 2013 should see sales between $195 million and $202 million, but adjusted earnings are expected to be just $0.04 to $0.07 per share. Analysts were expected next year's adjusted bottom line to come in closer to $0.11 per share.
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The article Why Infoblox Shares Got Crushed originally appeared on Fool.com.Fool contributor Evan Niu holds no position in any company mentioned. Click here to see his holdings and a short bio. The Motley Fool has a disclosure policy.
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