Seeking Alpha

Violin Memory collapses 26.8% AH on Q3 miss, disappointing guidance

  • Violin Memory (VMEM) collapses 26.8% AH after it missed expectations in its first quarter as a public company and issued guidance that missed expectations even further.
  • Management expects Q4 revenue of $30M-$32M (vs. consensus of $43.6M), gross margin of 53%-55%, and opex of $39M-$40M.
  • Violin added 32 new customers during the quarter "in a challenging Federal spending environment."
  • A silver lining: the company's gross margins added 11% Y/Y, coming in at 54% in Q3. In a rare sight of the times, Violin's share price had fallen 19.2% through today's close in the 2 months since its IPO due to concerns of its hemorrhaging bottom line, weak margins, and increasing competition.
  • Conference call at 5pm ET

Check out Seeking Alpha’s new Earnings Center »

From other sites
Comments (3)
  • Deja Vu
    , contributor
    Comments (1425) | Send Message
     
    Ashraf Essa was last seen sipping champagne leaning against his newly bought Lamborghini...
    21 Nov 2013, 04:44 PM Reply Like
  • ZenMind
    , contributor
    Comments (24) | Send Message
     
    He was dead-right.
    21 Nov 2013, 05:12 PM Reply Like
  • Ashraf Eassa
    , contributor
    Comments (9259) | Send Message
     
    Ugly results. Watch for my write-up tomorrow.
    22 Nov 2013, 12:32 AM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Hub
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs