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Updated from Oct. 12
MSC.Software (MSCS Quote) plunged 18% Friday after the company warned of a possible third quarter loss and a steep revenue shortfall.
The Santa Ana, Calif., business simulation software company expects to report revenue in the range of $58 million to $60 million for the third quarter ended Sept. 30. That's down from $75.6 million a year ago and far shy of the $84 million Thomson Financial target.
Adjusting for certain items, MSC said software license revenue fell 15% from a year ago, while maintenance revenue was flat and services revenue plunged 28%. "Revenue in this range may result in a small GAAP net loss for the quarter," the company said. ...
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