Nov 26 Network equipment maker Infoblox Inc
forecast second-quarter results below analysts'
expectations, sending its shares down 18 percent in extended
Infoblox's shares have almost tripled in the past year,
spurred by strong demand for its automation products that help
telecom companies manage internet traffic more efficiently.
"We have had significant quarter-over-quarter revenue growth
and product growth for the past five or six quarters ... It does
sometimes take a little time to digest those large quarter-over
quarter-increases," Chief Executive Robert Thomas said on a
conference call with analysts.
The company forecast adjusted earnings of 9 cents to 11
cents per share on revenue of $65 million to $66 million for the
quarter ending January.
The forecast implies year-over-year quarterly sales growth
of about 19-21 percent, the lowest in five quarters.
Analysts on average were expecting earnings of 12 cents per
share on revenue of $67 million, according to Thomson Reuters
Infoblox's first-quarter profit, however, beat estimates. On
an adjusted basis, it reported a profit of 12 cents per share,
above the average analysts estimate of 9 cents.
Revenue rose 28 percent to $63.5 million, in line with
Infoblox's shares were trading at $36.85 after the bell.
They closed at $44.96 on the New York Stock Exchange on Tuesday.