Shares tumble at Synnex


3 March 2005 – Fremont (CA): Synnex shares plummeted 18 per cent yesterday after the company lowered its Q1 outlook amid competitive pressure and soft demand.

Share price slid $4.13 to close at $18.77 after the company forecasted a quarterly EPS of $0.31 to $0.33 on total revenue of $1.34 billion to $1.35 billion.

Analysts were expecting an EPS of $0.38 for the quarter on sales of $1.42 billion.