SonicWALL sees 1Q revenue below prior forecast
SUNNYVALE, Calif. (AP) ? SonicWALL Inc. on Thursday lowered its first-quarter revenue outlook to between $46 million and $47 million, citing a drop in demand, but forecast better-than-expected adjusted profit.
The provider of network security technology had predicted higher revenue of $48 million to $52 million. The new outlook also falls below the $50.4 million average estimate of analysts polled by Thomson Reuters.
However, the company said that while earnings will total 2 cents or 3 cents per share, adjusted earnings will now total 7 cents per share ? above its prior forecast of 4 cents to 6 cents and better than Wall Street's 6-cent estimate.
SonicWALL is slated to issue its quarterly report on April 27.
SonicWALL shares fell 11 cents in after-hours trading, after finishing regular trading up 26 cents, or 5.3 percent, at $5.13.
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