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Investing

Isilon Sytems (ISLN): Double Revenue, Share Cut In Half

Photo of Douglas A. McIntyre
By Douglas A. McIntyre Published

Isilon Systems (ISLN) doubled its revenue in the first half of the year. The cluster storage company had revenue for the six-month period ended July 1, 2007 was $46.7 million, up 96 percent compared with $23.8 million in the same period of 2006. The market took the shares down 33% to $9.95 and they are now off by almost two-thirds from the 52-week high of $28.50.

But, in the last quarter, expense rose from $11.4 million to $17.9 million which increase the company’s operating loss from $4.3 million to $4.8 million. Someone did not watch those costs.

And then the company dropped the hammer on investors: Isilon is lowering guidance for total revenue for the full year 2007, and now expects total revenue to be in the range of $98 million to $105 million, which represents year over year growth in the range of 57 percent to 69 percent.

The company said third quarter sales growth would be even slower than for the entire year.

Investors just go used to that 96% growth rate.

Spoiled

Douglas A. McIntyre

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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