will report a wider-than-expected loss on a revenue shortfall in the first quarter, and said its CEO stepped down.
The enterprise software maker expects to record a GAAP loss of 9 cents or 10 cents a share, and a pro forma loss that excludes amortization and some restructuring items of 7 cents or 8 cents a share. Revenue will be $24.5 million to $25.5 million.
Analysts had been expecting the company to lose a pro forma 4 cents on revenue of $30 million.
In a separate release, the company said John Van Siclen, its president and chief executive, resigned and will be replaced on an interim basis by the company's chairman, Martin Brauns. No reason was given for the resignation.
Interwoven's shares were closed at $1.85 and were halted after hours.