Openwave (OPWV) got splashed with red ink as fiscal second-quarter sales came up short. But the company plans a $100 million stock buyback to ease shareholder pain.

The Redwood City, Calif., cell-phone-software maker says its adjusted net loss for the fiscal second quarter ended Dec. 31 was about 8 cents a share. Analysts were looking for a pro forma loss of a penny a share, according to Reuters Research.

Sales for the quarter were about $83.5 million, well below the $88.7 million analysts had expected.

Looking ahead to the end of the fiscal third quarter in March, the company says orders were strong but sales will be below Wall Street expectations. Openwave says it should see sales somewhere between $85 million and $90 million. The consensus called for revenue of $92 million. For the June quarter, Openwave expects sales of around $92.5 million.

The board of directors approved a $100 million share repurchase plan that is set to begin after the company releases its second-quarter results, though a date has not been disclosed.

Openwave shares fell 47 cents to $9 in postclose trading Thursday.

More from Technology

Flashback Friday: Amazon, Chip Stocks, Memorial Day

Flashback Friday: Amazon, Chip Stocks, Memorial Day

Some Companies Are Already Feeling the Effect of GDPR

Some Companies Are Already Feeling the Effect of GDPR

Experts Break Down GDPR Risks for Investors

Experts Break Down GDPR Risks for Investors

Netflix Ready to Surpass Disney as America's Most Valuable Media Company

Netflix Ready to Surpass Disney as America's Most Valuable Media Company

60 Seconds: What the Heck is GDPR?

60 Seconds: What the Heck is GDPR?