Why Violin Memory (VMEM) Is Lower on Friday

NEW YORK (TheStreet) -- Violin Memory (VMEM) is trading lower on Friday after quarterly revenue missed estimates and the company's full-year net loss came in wider than expected.

By midafternoon, shares had taken off 4.1% to $4.24.

The flash storage maker recorded a net loss of 28 cents a share in the three months to January, in line with estimates according to analysts surveyed by Thomson Reuters.

Revenue of $28.05 million, though 22.3% higher year over year, fell short of consensus of $30.77 million.

Over the fiscal year, the company posted a net loss of $2.54 a share. Analysts had forecast a loss of $1.94 a share.

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