RightNow Technologies slides to new 52-week low on revised '08 guidance
RightNow Technologies (Nasdaq:RNOW) slid nearly 11% to a new 52-week low this morning after announcing before the bell that it expects to reduce its full-year guidance for cash from operations.
The Bozeman, Mont.-based software firm did say it expects to be on target with its revenue and earnings for the third quarter.
RightNow blamed more contracts with periodic or annual payment terms and slower cash collections for the revised full-year guidance.
Analysts polled by Thomson First Call on average were expecting a loss of $0.10 per share for the year.
By late morning, RightNow is at $9.90, down $1.22 from Friday’s close, after falling as low as $9.54 earlier in the day. Previously, the stock had traded between $9.70 and $23.38 during the past 52 weeks.
For detailed price information and news stories on RightNow Technologies, click RNOW.
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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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