Double-Take Software falls 19.4% on lowered Q3 guidance
Shares of Double-Take Software Inc. (Nasdaq:DBTK) fell to a new 52-week low today after the company lowered its third-quarter revenue and earnings guidance.
The Southborough, Mass.-based data protection software firm said at 8:30 am ET that it now expects to earn $0.10 to $0.11 per share on revenue of $23.8 million to $24 million compared with a previous guidance of $0.14 to $0.15 per share on revenue of $25.7 million to $26.3 million.
Double-Take blamed the move on delayed closings in Europe and the Americas, including by companies in the Houston area affected in Hurricane Ike.
Analysts polled by Thomson First Call on average were expecting earnings of $0.15 per share on revenue of $25.8 million for the third quarter.
By midday the stock is at $7.02, down $1.73 from Friday’s close, after falling as low as $6.75 earlier in the day. Previously, the stock had ranged between $8.58 and $26.54 during the past 52 weeks.
For detailed price information and news stories on Double-Take Software, click DBTK.
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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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