Wind River falls 9.5% on disappointing Q3 guidance
Shares of Wind River Systems Inc. (Nasdaq:WIND) dropped 9.5% this morning after the company announced it expects its third-quarter earnings to be below analysts' expectations.
The Alameda, Calif.-based software firm said just before the market closed on Thursday that it expects its third-quarter non-GAAP net income per share to be in the range of $0.08 to $0.09. Anlaysts polled by Thomson First Call were expecting earnings of $0.14 per share.
The news drove the stock down despite the firm's doubling its net income to $8.8 million, or $0.11, for the second quarter ended July 31 compared with $4.3 million, or $0.05 a share, in the year ago quarter.
By mid-morning, Wind River is at $11.20, down $1.18 from Thursday's close. The stock has traded between $6.07 and $13.42 during the past 52 weeks.
For detailed price information and news stories on Wind River Systems, click WIND.
The Alameda, Calif.-based software firm said just before the market closed on Thursday that it expects its third-quarter non-GAAP net income per share to be in the range of $0.08 to $0.09. Anlaysts polled by Thomson First Call were expecting earnings of $0.14 per share.
The news drove the stock down despite the firm's doubling its net income to $8.8 million, or $0.11, for the second quarter ended July 31 compared with $4.3 million, or $0.05 a share, in the year ago quarter.
By mid-morning, Wind River is at $11.20, down $1.18 from Thursday's close. The stock has traded between $6.07 and $13.42 during the past 52 weeks.
For detailed price information and news stories on Wind River Systems, click WIND.
About the Author
Contributing author Mary Ann Azevedo has more than 13 years of writing and editing experience that includes coverage of a broad range of companies.
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