NEW YORK (TheStreet) -- Shares of Ruckus Wireless (RKUS) were falling 7.1% to $10.85 on heavy trading volume Friday after the wireless systems supplier missed analysts' estimates for earnings and revenue in the first quarter.
Ruckus Wireless reported earnings of 7 cents a share for the first quarter, below analysts' estimates of 8 cents a share for the quarter. Revenue grew 9.4% year over year to $82.08 million for the quarter, missing analysts' estimates of $85.62 million.
The company said it expects to report earnings of 7 cents to 10 cents a share and revenue of $86 million to $92 million for the second quarter. Analysts expect the company to report earnings of 10 cents a share and revenue of $90.7 million for the quarter.
About 3.2 million shares of Ruckus Wireless were traded by 12:57 p.m. Friday, above the company's average trading volume of about 1.5 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 robust revenue growth, largely solid financial position with reasonable debt levels by most measures and impressive record of earnings per share growth. However, as a counter to these strengths, we find that we feel that the company's cash flow from its operations has been weak overall."
You can view the full analysis from the report here: RKUS Ratings Report