ShoreTel, Inc. lowers Q2 revenue guidance
ShoreTel, Inc. (Nasdaq: SHOR), provider of Pure IP Unified Communications, lowered its revenue guidance for its second fiscal quarter today, attributing the lowered revenue expectations to a decline in sales to new customers.
For the quarter ended Dec. 31, 2007, the Sunnyvale, Calif.-based company said it expects revenue to be in the range of $29.7 million to $30.7 million, below its previous expectations of $32 million to $35 million. The consensus of seven analysts polled by Thomson Financial was for revenues of $34.07 million.
Shortel said its gross margin percentage is still expected to be within the guided range of 62% to 64% and GAAP operating expenses are also expected to be within the previously guided range of $19 million to $20 million.
The company commented that it is still in the process of analyzing the factors that affected the second-quarter results and that it will discuss those results further during a conference call at the end of January.
Shares of ShoreTel (SHOR) tumbled 21.64%, or $2.83, to $10.25 ahead of the opening. Shares of ShoreTel have been trading in the range of $9.80 to $19.96 for the past 52 weeks.
