Last updated: September 11, 2016
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Shares fall nearly 40%
Violin Memory reported Q2 revenue ($7.5m) 23% lower sequentially and 51% lower compared to the prior year period along with a $0.59 loss per share. Shares fell by nearly 40% after the report.
CEO Kevin DeNuccio on an earnings call: "This quarter's performance is obviously frustrating and disappointing as we strongly believed it could be the quarter that returns revenue upward after a downward trend for more than a year. Both of our international theatres in the EMEA and APAC had extremely difficult product sales in the quarter. The international markets alone could account for a short fall from expectations."
The results have subsequently caused some observers to speculate on a worst-case demise scenario for the company.