Completely wrong. The operating expense includes amortization of the acquisition and stock options expense, etc. They'll see a similar 1/4 to this with 27.9m in revenues. Will result in a gapp loss of .17/share and a non-gap of .02/share. Given the stock is trading down slightly in ahs, the miss may have been factored into the #s. We're not that far from the 12 month low of 3+. I doubt we'll see it drop much below 3.30 or so tomorrow. If you're hoping for more of a drop, you're probably very mistaken.
The margins were stronger than expected, resulting in a smaller loss than expected. Next 1/4's loss will be trimmed to .02/share or so, even though revenues will be lower. The company is operating more efficiently, even though they will have less revenues than expected.