INX sees Q4 revenue below consensus estimate
INX Inc. (Nasdaq: INXI) shares dipped lower in Monday’s trading after the communications solutions provider reported that it expects fourth-quarter revenue of about $57 million, or below analysts’ expectations of $62 million.
“Fourth-quarter spending is typically a back-end loaded quarter in terms of product revenue due to year-end spending habits of customers,” CEO James Long said in a statement. “The month of December was weaker in terms of product sales relative to historical fourth-quarter customer spending patterns we have observed."
The Houston, Texas-based business will hold an investor conference call at 4:30 p.m. in March to discuss the results.
In Monday’s trading, INXI shares were down 12.11%, or $0.98, at $7.11. Over the last 52 weeks, shares have ranged from $6.31 to $15.67.
