VMware CEO, Diane Greene, was fired after she refused another position at the company at the request of EMC CEO Joseph Tucci. This coupled with a subpar earnings outlook for 2008 has caused the stock to plummet over the last couple days.
Shares of VMware failed to meet analysts lofty expectations, resulting in a sharp sell-off. Revenue for the quarter came in at $412M, just off estimates of $417M and guidance for 2008 included top line growth of 50% versus an expected 56% rate. 
VM Ware won the desktop vitualization technology of the year award from Infoworld. The company will report earnings on January 28.
The company reported third-quarter net income of $64.7 million, or 18 cents per share, compared with $19.2 million, or 6 cents a year earlier.
Revenue rose to $357.8 million from $188.8 million a year earlier.
VMware shares slid $4+ on an SEC filing that disclosed 2Q 2007 financial results. VMW earrned $0.10/share (vs $0.05 Year Ago) on $296.8M in revenue (vs $156.4 Year Ago). Analysts were expected VMW to earn $0.13/share on revenue of $297M. 
VMware acquired Dunes Technologies, a provider of IT process orchestration software. This acquisition comes within a month of the company’s IPO and highlights the company’s aggressive growth strategy.