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SAN FRANCISCO - Lawson Software(LWSN Quote - Cramer on LWSN - Stock Picks) reported a first-quarter loss Thursday and issued mixed guidance.
Revenue at the corporate software company rose 2% to $190.9 million, from $187.4 million for the same quarter of last year. Analysts were projecting a top line of $191 million, according to Thomson Reuters. The company, which is based in St. Paul, Minn., posted a net loss of $2.5 million, or the loss of a penny a share, from a profit of $5.6 million, or 3 cents a share, in the year-ago quarter, when the outstanding share count was 10% higher. Excluding special charges, EPS was 5 cents a share, in line with analysts' estimates. Currency fluctuations had a negative 2-cent impact on EPS, according to the company. Deferred revenue rose 16.4% year over year to $275.1 million. Shares fell 36 cents, or 5.6%, to $6.05 in extended trading. For the second quarter, the company projected revenue ranging from $205 million to $215 million, well shy of the consensus estimate of analysts for revenue of $224.2 million. But Lawson's projection for EPS, excluding items, of 7 cents to 10 cents is within the Street's estimate of 9 cents. Lawson competes against business software giants Oracle(ORCL Quote - Cramer on ORCL - Stock Picks) and SAP(SAP Quote - Cramer on SAP - Stock Picks), selling industry-specific software into the manufacturing, retail and healthcare sectors, among others.
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