Internap Network Services Corp., which manages data centers and routes Internet traffic, on Tuesday reduced its full-year revenue guidance mostly below Wall Street's estimates.
Internap shares tumbled in after-hours trading, shedding $1.08, or 24.7 percent, to $3.30. They ended the regular session down 12 cents, or 2.7 percent, at $4.38.
The company said it now expects revenue growth of between 9 percent and 13 percent in 2008, down from a prior forecast of 13 percent to 18 percent revenue growth. Based on 2007 revenue of $235.9 million, the estimate implies revenue of between $257.1 million and $266.6 million.
Analysts polled by Thomson Financial, on average, anticipated total sales of $266.3 million.
The company lowered its guidance due to on-going softness in the content delivery network services market.
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