Allot Shares Sink on Forecast

Shares of Allot Ltd. (Nasdaq: ALLT) are plunging after hours as the deep packet inspection vendor has announced a quarterly miss for the second time this year.

This afternoon, Allot announced revenues will be around $7 million for its third quarter, which ended in September. (See Allot Edits Outlook.)

Revenues for the full year will be between $32 million and $35 million, the company said.

Analysts were expecting third-quarter revenues of $9.5 million and full-year revenues of $38.4 million, according to Thomson Financial .

Allot is blaming an age-old culprit: the newly announced platform. Customers are waiting on the 10-Gbit/s service gateway that was announced in June, Allot officials said in a press release. (See Allot Announces DPI Platform.)

So continues a disappointing year for Allot, which has been sliding since its IPO in November. (See Allot Leaps on Nasdaq Debut.)

In April, Allot had to announce its first-quarter earnings would fall short of estimates. Allot disappointed again in the second quarter, reporting second-quarter losses of 1 cent per share when analysts expected a 1-cent profit, according to Thomson. (See Allot Alters Estimate and Allot Reports 2Q.)

Allot shares were down $0.94 (14%) to $5.80 in early after-hours trading on Tuesday.

— Craig Matsumoto, Senior Editor, Light Reading