By late morning, shares had plunged 14.5% to $7.59. Trading volume of 3 million was over five times its three-month average daily volume.
The enterprise-oriented social software platform said it expects revenue for the March-ended quarter of $40 million to $41 million and a per-share loss of 11 cents to 13 cents. Analysts had expected revenue of $41.2 million and a per-share loss of 12 cents.
Guidance of full-year sales between $170 million and $175 million was slightly lower than an anticipated $176.6 million.
In the three months to December, the company recorded a loss of 16 cents a share, in line with analyst consensus, and revenue of $39.31 million, 20% higher than a year earlier.
"We saw positive results from our focused go-to-market messaging and sales efforts that were targeted at key IT and line of business decision makers," said CEO Tony Zingale in a statement. "We continued to build on our highly differentiated track record of market leading innovation with the release of Jive Fall Cloud/Jive 7 and our unique ability to deliver tangible business results for our customers."
The company announced James Larson, president of worldwide field operations, was resigning effective March 31. SVP of worldwide sales John McCracken will assume his responsibilities until a replacement has been found.
TheStreet Ratings team rates JIVE SOFTWARE INC as a Sell with a ratings score of D. The team has this to say about their recommendation: