SonicWALL Sees 1Q Revenue Below Prior Forecast

SUNNYVALE, Calif. (AP) — SonicWALL Inc. on Thursday lowered its first-quarter revenue outlook to between $46 million and $47 million, citing a drop in demand, but forecast better-than-expected adjusted profit.

The provider of network security technology had predicted higher revenue of $48 million to $52 million. The new outlook also falls below the $50.4 million average estimate of analysts polled by Thomson Reuters.

However, the company said that while earnings will total 2 cents or 3 cents per share, adjusted earnings will now total 7 cents per share — above its prior forecast of 4 cents to 6 cents and better than Wall Street's 6-cent estimate.

SonicWALL is slated to issue its quarterly report on April 27.

SonicWALL shares fell 11 cents in after-hours trading, after finishing regular trading up 26 cents, or 5.3 percent, at $5.13.