SiliconBeat

SonicWall, the Sunnyvale network security provider, lowered its forecast for its recently completed quarter, saying it now expects sales of between $46 and $47 million, down about seven percent from its previously issued guidance of between $48 and $52 billion. The company blamed “sluggish demand conditions across all geographic regions and product categories.”

But the company raised its expectations for per-share earnings, excluding some items, to 7 cents, above its previous forecast of between 4 and 6 cents, citing “ongoing expense control initiatives and gross margin performance ahead of expectations.”