UPDATE 5:00 PM EST: GoPro re-opens for trading after halt for earnings, slides 19%.

GoPro Inc (NASDAQ:GPRO) released its finalized fourth quarter earnings numbers after closing bell tonight, posting loss of ($0.08) versus the consensus of breakeven on a non-GAAP basis, and $437 million in revenue, compared to the consensus of $496.1 million. Management originally guided for sales of between $500 million and $550 million and adjusted earnings of between 35 cents and 45 cents per share.

Following tonight’s earnings report, GoPro shares went up by 1% to land at $10.80 per share.

GoPro Inc Misses Expectations, Posts Loss

GoPro releases final fourth quarter results

GoPro already preannounced some results last month, so tonight’s report wasn’t anything surprising. Management said the company only recorded sales of $435 million, blaming lower than expected camera sales resulting in weaker than expected sell-through at retailers. Along with the negative preannouncement, GoPro also said it would cut its more than 1,500-employee workforce by 7% immediately.

The negative preannouncement was such a shock–despite the problems most already were aware of, particularly due to slow sales of the Session camera—that it sent the camera maker’s stock spiraling downward to lose about 25% of its market value and resulting in shares being halted for a time.

Not all analysts have lost hope

Interestingly, some analysts believe Wall Street might be too pessimistic on GoPro right now. Wedbush analyst Michael Pachter in particular is expecting a recovery, noting that the Session camera has thus far been the only product that has hit a bad nerve among consumers. Even with the two price cuts on that camera, which brought the price down to $199, he still thinks the camera maker will turn a profit on it.

He was also positive on GoPro’s job cuts which he said demonstrates that management is willing to take steps to control spending. Looking into this year, the company is preparing to launch its first drone, the Karma quadcopter. Bulls in general are expecting great things from this product. Another serious miss could spell doom for GoPro. Pachter believes the company will sell between 150,000 and 200,000 drones per quarter if consumers like it.