Supply-chain-management software maker Manugistics ( MANU) warned Wednesday that it would not meet its third-quarter financial targets, citing a challenging sales environment across all its operations. The Rockville, Md.-based company said it expects to post net income of 35 cents to 37 cents a share on revenue of about $61 million to $62 million in the quarter. Excluding a $7 million restructuring charge, amortization of acquired technology and non-cash stock compensation, Manugistics said it would record a loss of 18 cents to 20 cents a share. Wall Street analysts were expecting the company to lose 14 cents a share on $70.2 million in revenue, according to research firm Thomson Financial/First Call. "Although sales activity is up, it is not reflected in closure rates as clients and prospects continue to postpone major capital investments in application software," the company said in a press release. Manugistics also guided lower for the fourth quarter, saying it now sees revenue of about $68 million to $69 million. On a sequential basis, the company said earnings per share are expected to "improve significantly" from the third quarter. Analysts were expecting the company to post revenue of $72.5 million and a loss of 6 cents. "It has been difficult to find a bottom to the decreased spending on application software, but with software license revenue from our government contract, we believe we should see improved operating performance in our fourth quarter," the company said. Manugistics' shares were recently trading down 83 cents, or 24.2%, at $2.58 on Nasdaq. The stock has tumbled 84% year-to-date.