Envivio (ENVI) Warns for Q3

Envivio (Nasdaq: ENVI) announced that it expects revenue for the quarter ending October 31, 2012, to be in the range of $7.0 million - $7.5 million, as compared to its previous guidance of $10 million - $11 million and the consensus of $10.6 million.

"The global slowdown in spending by our service provider customers has persisted, with sales cycles continuing to lengthen," said Julien Signès, president and CEO, Envivio. "While we remain confident in maintaining our technology leadership and competitive positioning, as well as the long term growth of the multi-screen video processing market, we acknowledge that near-term visibility of demand remains limited. As a result, we are continuing to execute on the measures we discussed last quarter to manage our expenses and are reviewing our sales execution and other aspects of our strategy. We will provide a further update in our full earnings release and related earnings call, scheduled for December 4, 2012."

Note - shares are currently halted.

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