This week Voltaire released news that it will report Q3 results at the end of this month, and they won’t be pretty.
Revenues for the third quarter of 2008 are expected to be in the range of $14.1 million–$14.6 million compared to the $17 – 18 million originally anticipated. Revenues for the quarter were lower than initially forecast given a delay in the receipt of two multi-million dollar orders from US-based financial institutions. These two orders, initially expected at the end of the quarter, were not received due to the turbulence in the capital markets at the end of September 2008. Consequently, the Company expects to generate a non-GAAP loss per share for the quarter in the range of $0.02 – $0.03 compared to the $0.02 – $0.04 non-GAAP earnings per share originally anticipated.
Bottom line: anticipated profits turned into realizes losses, but take it cum granis salis. I’m suspicious of non-GAAP results — companies headlining non-GAAPs are usually burying bad news.