Isilon Systems reports preliminary Q3 results below analysts' expectations
Investors are sending shares of Isilon Systems (Nasdaq: ISLN) spiraling downward after the clustered storage provider reported preliminary third quarter results below Wall Street’s estimates.
For the third quarter ended Sept. 30, the Seattle, Wash.-based firm said it expects to take a net loss per share in the range of $0.08 to $0.10. Five analysts polled by Thomson Financial are expecting on average a narrower loss of $0.03 per share.
Isilon said it expects total revenue to be in the range of $23.2 million to $23.7 million, lower than its previously forecasted revenue guidance range of $25 million to $27.5 million. The consensus of six analysts polled by Thomson Financial is for sales of $26.75 million.
The company's final results for the third quarter of 2007 will be released on Oct. 25 after the close of market.
Shares of Isilon (ISLN) fell $1.23, or 17.57%, to $5.77 at 1:41 p.m. ET. Shares of Isilon have been trading in the range of $5.26 to $28.50 for the past 52 weeks.
