Careers & Certifications

00:50 AM
Connect Directly
RSS
E-Mail
50%
50%

Inrange Lowers Guidance Post-Attack

Vendor says variables related to the September 11th tragedy will affect its financials

Fibre Channel switch maker Inrange Technologies Corp. has lowered its quarterly guidance, citing the negative impact of last week's terrorist attacks in the U.S.

The move is an unhappy first for Inrange. Unlike many of its competitors, Inrange has not had to lower guidance until now. Since its IPO in September 2000, it has achieved quarterly revenue growth of at least 30 percent when compared with the same quarter the year before.

For the second fiscal quarter 2001, for instance, Inrange's total revenues were $69.4 million, a 33 percent increase over the second quarter of 2000, and a 9 percent sequential increase over the first quarter 2001.

Now, Inrange believes that its third-quarter revenues will fall between $55 and $63 million -- representing nearly an 8 percent decrease from third-quarter revenues of 2000 (which were $64 million). Earnings per share could range from a loss per share of $0.02 to positive earnings per share of $0.02.

But even this adjusted guidance isn't certain. Depending on variables related to last week's tragic events, Inrange says third-quarter revenues could drop below the range it's given by as much as $4 million, with a corresponding impact on earnings per share.

Previous
1 of 3
Next
Comment  | 
Print  | 
More Insights
Cartoon
Slideshows
Audio Interviews
Archived Audio Interviews
Jeremy Schulman, founder of Schprockits, a network automation startup operating in stealth mode, joins us to explore whether networking professionals all need to learn programming in order to remain employed.
White Papers
Register for Network Computing Newsletters
Current Issue
Video
Twitter Feed