What: Shares of flash specialist Nimble Storage (NYSE: NMBL) got crushed today, down by 16% as of 11:24 a.m. ET, after the company reported fourth-quarter earnings and issued weak outlook.
So what: Revenue in the fourth quarter rose 32% to $90.1 million, but would have been $92.6 million if it weren't for pesky foreign currency exchange fluctuations. Adjusted gross margin contracted modestly to 66.4%. Non-GAAP net loss was $9.9 million, or $0.12 per share. Nimble Storage beat the consensus estimate for sales and was right on target for the bottom-line loss.
Now what: Guidance was a little lacking, though. First-quarter revenue is expected to be in the range of $83 million to $86 million, with an adjusted net loss of $0.25 to $0.27 per share. The company notes that the first quarter is historically its slowest quarter seasonally, but Nimble also expects some headwinds from the potential impact of its All Flash array product introduction, since that may affect existing sales cycles.