Savvis expects 2008 sales below Wall Street's views
ST. LOUIS—After posting first-quarter sales below Wall Street's expectations, computer network service provider Savvis Inc. forecast full-year revenue well below analysts' estimates Tuesday, sending shares sharply lower after hours.
The company expects 2008 revenue in the range of $840 million to $870 million.
Analysts, on average, were expecting sales of $905.5 million, according to a poll by Thomson Financial.
Shares fell $2.88, or 15.4 percent, to $15.80 in after-hours electronic trading. The stock fell $1.35, or 6.7 percent, to close at $18.68 in the regular session.
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