Gigamon -20.7% AH on Q1 warning

Gigamon (GIMO) expects Q1 revenue of $31M-$31.5M, below prior guidance of $34M-$35M and a $34.8M consensus. The networking visibility/monitoring hardware maker blames its failure to close a major deal with an EMEA customer, and the slippage of other deals into Q2.

Gigamon expects to record a $2.3M excess inventory charge related to the EMEA deal that failed to close. Thanks to the charge, gross margin is expected to be in a range of 71%-72%, below prior guidance of 78%-79%.

Shares have made new post-IPO lows. Q1 results arrive on April 24.

Comments (2)
  • troul
    , contributor
    Comments (20) | Send Message
    Typical market overreaction, great buying opportunity
    7 Apr 2014, 05:26 PM Reply Like
  • nineeight75
    , contributor
    Comments (2) | Send Message
    Indeed, fantastic buying opportunity.
    9 Apr 2014, 06:16 AM Reply Like
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