NEW YORK (TheStreet) -- Shares of Ruckus Wireless (RKUS) were falling 14.6% to $11.01 with heavy trading volume on Friday after the wireless systems supplier provided a light guidance for the fourth quarter.
On Thursday, Ruckus said it expects to report earnings of 11 cents to 14 cents a share and revenue of $99 million to $104 million for the fourth quarter. Analysts expect the company to report earnings of 14 cents a share and revenue of $103.4 million for the quarter.
Ruckus reported earnings of 13 cents a share for the third quarter, beating analysts' estimates of 12 cents a share. Revenue grew 16.5% year over year to $99 million for the quarter, compared to analysts' estimates of $97.04 million.
About 4.8 million shares of Ruckus were traded by 11:37 a.m. Friday, above the company's average trading volume of about 1.4 million shares a day.
TheStreet Ratings team rates RUCKUS WIRELESS INC as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
We rate RUCKUS WIRELESS INC (RKUS) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures and good cash flow from operations. However, as a counter to these strengths, we find that the growth in the company's net income has been quite unimpressive.
You can view the full analysis from the report here: RKUS
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