NEW YORK (TheStreet) -- Shares of Gigamon plummet after Monday's close on the company's weaker-than-expected first-quarter revenue forecast.
Shares of Gigamon (GIMO) plummeted in after-hours trading on Monday after the company forecast lower-than-expected first-quarter revenue.
The company forecast revenue of between $31 million and $31.5 million, below its previously stated guidance and shy of analyst expectations of $34.8 million, according to Thomson Reuters. The company, which makes network traffic management software, blamed the weaker-than-expected results on a $2.3 million inventory charge tied to the cancellation of a contract.
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