Epicor Software Boosts 3rd-quarter Profit Estimate
IRVINE, Calif. (AP) ¿ Epicor Software Corp. on Tuesday raised its third-quarter profit estimate, while keeping its revenue expectations intact.
The company, which makes software for manufacturing, distribution, retail, hospitality and services companies, said it now expects to report adjusted profit for the three months ended Sept. 30 exceeded the 9 cents to 10 cents per share it forecast in July.
Epicor still expects to post revenue between $96 million and $100 million.
The company provided no details on why it was raising its forecast, nor did it identify what items would be removed from net income to come up with the adjusted figure.Analysts polled by Thomson Reuters, on average, expect Epicor to post third-quarter profit of 10 cents per share on revenue of $98.5 million revenue. Analysts typically exclude one-time gains and charges from their forecasts. Epicor shares jumped 72 cents, or 11 percent, to $7.14 in midday trading. The stock has moved between $2.33 and $8.24 in the past 52 weeks, and started Tuesday's session up about 34 percent since the start of the year.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV