eTelecare drops 10% on revised Q2 guidance

eTelecare Global Solutions (Nasdaq:ETEL) fell by nearly 10% this morning after the company reported drastically reduced 2008 guidance after the market closed Wednesday.

The Scottsdale, Ariz.-based business process solutions provider now projects 2008 earnings will range between $9 million to $11 million, or $0.30 to $0.36 per share, compared with previous estimates of a range $16 million to $19 million, or $0.50 to $0.60 per share.

Analysts polled by Thomson First Call were expecting earnings per share of $0.51 for the year.

By mid-day Thursday, eTelecare’s stock is at $5.64, down $0.61 from Wednesday’s close. The stock has traded as low as $4.93 and as high as $12.05 in the past year.

For detailed price information and news stories on eTelecare, click ETEL.

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