Guidance Software slides to 52-week-low after disappointing Q2
Shares of Guidance Software Inc. (Nasdaq: GUID) plunged 37% this morning, hitting a new 52-week-low in the face of disappointing second quarter earnings released after the close on Thursday.
For the three months ended June 30, the Pasadena, Calif-based company posted a net loss of $2.6 million, or $0.11 per share, versus a net loss of $1 million, or $0.04 per share in the same quarter of the previous year.
Analysts had expected Guidance to turn a profit of $0.02 per share for the quarter.
Guidance cited lower than expected orders for one of its products, EnCase Enterprise, for the loss.
This morning, Roth Capital downgraded the stock from “Buy” to “Hold” while Wachovia downgraded it from “Outperform” to “Market Perform.”
At 12:55 ET , Guidance is at $6.65, down 37% from Thursday’s close, after trading as low as $6.14 earlier in the day. The stock had traded between 47.80 and $14.89 in the past 52 weeks.
For detailed price information and recent news stories about Guidance Software, click GUID.
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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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