Gigamon cuts revenue forecast, shares fall

Tue Jul 8, 2014 5:30pm EDT

Paul Hooper, CEO of Gigamon, gives an interview on the floor at the New York Stock Exchange, June 12, 2013. REUTERS/Brendan McDermid

Paul Hooper, CEO of Gigamon, gives an interview on the floor at the New York Stock Exchange, June 12, 2013.

Credit: Reuters/Brendan McDermid

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(Reuters) - Network traffic management software maker Gigamon Inc cut its second-quarter revenue forecast, citing difficulty in closing deals.

The company's shares fell as much as 28 percent to $13.00 in extended trading.

Gigamon now expects revenue of $34.5 million to $35 million in the quarter ended June 28, lower than its previous forecast of $38 million to $42 million.

(Reporting By Subrat Patnaik in Bangalore; Editing by Savio D'Souza)

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