Shares of Cyan Inc (CYNI) plummeted after-hours on January 6, 2014, after management reported abysmal revenue figures for Q4. Seeking Alpha's "Market Currents" succinctly outlines the highlights:
Cyan -22.6%, preliminary Q4 revenue of $20M-$21M short of guidance by a third
- Cyan shares crater 22.6% AH following the company's preliminary revenue announcement of $20M-$21M, miles below the previous $30M-$33M guidance and analyst expectations of $31.3M.
- The company attributed the decline to an 88% Q/Q decrease in revenue from its largest customer to $2M.
- A silver lining: revenue on the year expanded 32%-34% Y/Y to $70M-$71M excluding the largest customer as Cyan diversifies its base.
That is pretty ugly stuff. Especially for me as I discussed the company in a "Top...