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Yucheng Technologies slumps after missing Q1 profit expectation

Will Atkinson  |  May 15, 2008 2:38pm EDT  |  User Rating N/A

Yucheng Technologies Ltd. (Nasdaq:YTEC) shares are slumping 27% after the China-based firm reported first-quarter profits of $1.4 million, or $0.08 per share, which missed Wall Street’s expectation of $0.12 per share. The company earned $0.7 million, or $0.06 per share, during the year-ago period. Revenue jumped to $16 million from $9.3 million a year earlier. Analysts anticipated $12.7 million in revenue.

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