Infoblox shares fall on 2nd-quarter guidance

The Associated Press

Shares of Infoblox Inc. fell sharply Wednesday after the company posted an outlook for its current fiscal second quarter that fell short of Wall Street expectations.

THE SPARK: For the second quarter ending Jan. 31, the company said it expects adjusted earnings between 9 cents per share and 11 cents per share and revenues between $65 million to $66 million. Analysts had expected earnings of 12 cents per share and revenue of $67 million, according to FactSet.

For the fiscal year ending July 31, the company expects adjusted earnings between 44 cents per share and 54 cents per share and revenue between $270 million and $276 million. Analysts expected earnings of 53 cents per share and revenue of $276.9 million.

The company released its outlook late Tuesday with its fiscal first quarter results, which beat Wall Street expectations.

THE BACKGROUND: Infoblox, which is based in Santa Clara, Calif., makes technology for data centers. The company went public in April of 2012.

SHARE ACTION: Down $13.15, or 29 percent, to $31.81 in late trading Wednesday. The company went public at $16 a share. Despite Wednesday's sell-off, the stock is still up 77 percent for 2013.