Epicor Software to miss Q1 profit expectations
Shares of Epicor Software Corp. (Nasdaq:EPIC) have dropped more than 20% on news before the start of trading that the provider of supply chain management and customer relationship management solutions expects first-quarter earnings below the consensus on Wall Street.
The Irvine, Calif.-based company projects that net income for the three months ended March 31 will be between $0.06 per share and $0.07 per share, while eight analysts polled by Thomson Financial were calling for $0.17 per share. Epicor Software blamed lower than expected consulting revenue for the shortfall.
Profit for the entire 2008 year is projected between $0.92 per share and $0.96 per share, while analysts were calling for $1.03 per share.
At 10:48 a.m. ET, the stock had declined $2.73, or 25%, to $8.06.
The Irvine, Calif.-based company projects that net income for the three months ended March 31 will be between $0.06 per share and $0.07 per share, while eight analysts polled by Thomson Financial were calling for $0.17 per share. Epicor Software blamed lower than expected consulting revenue for the shortfall.
Profit for the entire 2008 year is projected between $0.92 per share and $0.96 per share, while analysts were calling for $1.03 per share.
At 10:48 a.m. ET, the stock had declined $2.73, or 25%, to $8.06.
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