Infoblox estimates weak second-quarter, shares fall

Mon Feb 10, 2014 5:36pm EST

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(Reuters) - Network equipment maker Infoblox Inc estimated second-quarter revenue below analysts' average forecast, citing disappointing business with the U.S. government and fewer $1 million-plus transactions.

The company's shares fell 29 percent to $23.42 in extended trading.

"While sales through the first two months of the quarter met our internal expectations, we experienced a much weaker January than expected," Infoblox Chief Executive Robert Thomas said in a statement.

The company forecast adjusted earnings of 10-12 cents per share on revenue of $60-$61 million for the quarter ended January 31.

Analysts on average were expecting earnings of 10 cents per share on revenue of $65.7 million, according to Thomson Reuters I/B/E/S.

(Reporting By Lehar Maan in Bangalore; Editing by Don Sebastian)

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