Your email address:

Powered by FeedBlitz

Or add to your news reader: Add to My Yahoo! Add to Google

Tuesday, May 6, 2008

Synchronoss (SNCR) reports below expectations

Stephen G. Waldis, President and Chief Executive Officer of
Synchronoss, stated, "Our update for the first quarter and full year
2008 is mixed. We have materially lowered our growth expectations for
2008 due in large part to reduced revenues associated with the iPhone,
which masks the underlying growth and momentum of the rest of our
business. Our growing brand and significant long-term growth
opportunity is evidenced by the company winning more new, strategic
customer initiatives in the past quarter than any other time in the
company's eight year history. As a result of our confidence in the
direction of the company and our long-term growth opportunity, our
board of directors has approved a share repurchase program for up to
$25 million."

Not sure what that means yet but its first admission of iPhone weakness I've really seen, though the data shows iPhones have been slowing since they were rolled out.

No comments:

Blog Archive