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Shares of Packeteer (PKTR Quote) tumbled 27% Wednesday after the computer-networking concern warned of a big revenue disappointment for the first quarter.
The company estimated that its revenue for the period totaled $31 million to $33 million, representing a roughly 25% decline from the fourth quarter. Previously, Packeteer projected that revenue would be flat to slightly higher than the $43.2 million it posted for the fourth quarter.
Analysts polled by Thomson Financial had forecast first-quarter revenue of $43 million. Wall Street currently expects earnings of 15 cents a share for the quarter. ...
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