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-0.0019912492186802 -0.00169658005179035 0.012590409858023 0.0103580676846148 0.0116974729886597 0.0108045361192964 0.0192874363782482 8.92936869364427E-05
Stock impact report

Casa Systems Tanks After Weak Forecast, Analyst Downgrades [TheStreet.com]

Casa Systems, Inc. (CASA) 
Last casa systems, inc. earnings: 4/30 04:05 pm Check Earnings Report
Company Research Source: TheStreet.com
Casa Systems Tanks After Weak Forecast, Analyst Downgrades Shares of Casa Systems Inc. ( CASA The stock was falling 22% to $11.20 a share. Casa issued preliminary guidance for its fourth quarter saying it expects revenue of between $63 million and $69 million, well under analysts' expectations of $100 million. The company expects earnings per share of between 13 and 17 cents, below estimates of 20 cents. The company expects gross margins to come in at between 70% and 73%. The lowered revenue guidance is largely attributable to a change in customer preference. "Our fourth quarter results were impacted by lower than expected spending in hardware by certain MSO customers as they begin to transition from Integrated CCAP to Distributed Access Architecture (DAA)," said Jerry Guo, president and CEO of Casa Systems. Production delays also caused management to delay the recognition of some revenue for the quarter. "To a lesser extent we also experienced wireless product certification delays, w Show less Read more
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