Warning season Started in Full Swing
Friday, INTC warned. Today its DGIT..and the stock has been cut in half since August started.
DG FastChannel Swoons; Warns On Q3, Full Year; Sets BuybackBy Eric Savitz
DG FastChannel (DGIT) shares are down sharply this morning after the company issued disappointing guidance for the third quarter and full year.
For the September quarter, the company, which provides digital medial service to the advertising, entertainment and broadcast industries, sees revenue of $51 million to $53 million and EBITDA of $23 million to $24 million; the Street has been expecting revenue of $61.5 million.
For the full year, the company sees revenue of $230 million to $234 million, and EBITDA of $105 million to $107 million; the Street has been forecasting revenue of $246.2 million.
The company also said its board has approved a $30 million stock repurchase program.
DGIT is down $5.69, or 23.2%, to $18.85.