reported second-quarter earnings that met analysts' estimates but fell sharply from a year ago.
The Houston-based software company posted earnings, excluding special charges and amortization of goodwill and intangible assets, of $27.9 million, or 11 cents a share, in line with the 14-analyst
First Call/Thomson Financial
consensus estimate. Earnings for the latest second quarter represented a 75% decrease from the previous year's figures.
Revenue for the quarter fell 22% to $323 million from $415.7 million in the same period a year ago.
BMC said "we continue to see a reluctance among customers to commit to large enterprise license transactions as the mainframe market remains soft. What that means for us is that we are adjusting our business model to this market reality. Going forward, we recognize the need for both short-term earnings growth and the requirement to invest for the future."