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.