Skip to main content
Tags: US | Compellent | Mover

Compellent Shares Plunge On Revenue Outlook

Thursday, 08 April 2010 02:13 PM EDT

Shares of data storage company Compellent Technologies Inc. plunged Thursday after the company said its first-quarter revenue will fall short of Wall Street estimates.

Compellent said late Wednesday that it expects to report revenue of $31.5 million to $32 million for the quarter ended in March. That's up 12 percent to 14 percent over the same quarter a year ago.

But analysts, on average, expected $36.4 million, according to Thomson Reuters.

In a statement, CEO Phil Soran said revenue dipped more than the seasonal norm for the first quarter because of a reorganization of the company's sales group and delays in large orders.

He added, "We remain positive about the outlook for Compellent's continued growth."

In a client note, Pacific Crest analyst Brent Bracelin kept an "Outperform" rating on the company's stock but said the shortfall was the result of "missteps in execution" on managing orders.

Compellent shares were down $4.28, or 2 percent, to $13.28 in afternoon trading. The stock has traded between $9.94 and $24.95 over the past year.

© Copyright 2025 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


Companies
Shares of data storage company Compellent Technologies Inc. plunged Thursday after the company said its first-quarter revenue will fall short of Wall Street estimates.Compellent said late Wednesday that it expects to report revenue of $31.5 million to $32 million for the...
US,Compellent,Mover
171
2010-13-08
Thursday, 08 April 2010 02:13 PM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
TOP

Interest-Based Advertising | Do not sell or share my personal information

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
America's News Page
© Newsmax Media, Inc.
All Rights Reserved
Download the Newsmax App
NEWSMAX.COM
America's News Page
© Newsmax Media, Inc.
All Rights Reserved