SSNI – Silver Spring Networks Stock Takes a 22%+ Tumble

by Karl Utermohlen | January 17, 2014 12:48 pm

SSNI – Silver Spring Networks Stock Takes a 22%+ Tumble

Silver Spring Networks (SSNI[1]) stock took a hit after the company announced preliminary financial results for its fourth quarter.

Silver Spring SSNI   Silver Spring Networks Stock Takes a 22%+ Tumble[2]The networking platform and solutions company failed to close a few deals that impacted its fourth quarter[3] and year ended December 31, 2013. Silver Spring Networks CEO Scott Lang said that the company expects top line to grow approximately 13%.

“We made good progress in expanding our global footprint and growing our total backlog to a record $875 million, representing growth of 17% year-over-year,” Lang added. The company will host a conference call at 5:00 pm ET to discuss its preliminary fourth quarter, its 2013 financial results and its outlook for the future.

SSNI stock is down 23.2% in early trading Friday.

Endnotes:
  1. SSNI: http://studio-5.financialcontent.com/investplace/quote?Symbol=SSNI
  2. [Image]: http://investorplace.com/wp-content/uploads/2013/03/Silver-Spring.png
  3. impacted its fourth quarter: http://www.marketwatch.com/story/silver-spring-networks-reports-preliminary-results-for-fourth-quarter-and-full-year-2013-2014-01-16?reflink=MW_news_stmp

Source URL: http://investorplace.com/2014/01/ssni-silver-spring-networks/
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