NEW YORK (TheStreet) -- Shares of Interactive Intelligence Group Inc. (ININ) are falling -16.36% to $41.81 on heavy trading volume on Wednesday morning after the company issued revised guidance for the 2014 second quarter, which is expected to be lower than previously forecast.
Interactive Intelligence, a holding company that provides software applications, said it's now expecting revenue for the 2014 second quarter to be between $78 and $80 million, compared to its previous estimates of $86 million to $88 million.
The company also said it's anticipating a non-GAAP operating loss between $6 million and $7 million. Interactive Intelligence previously announced it expected to break even for the quarter.
Must Read: Warren Buffett's 25 Favorite Stocks
Separately, TheStreet Ratings team rates INTERACTIVE INTELLIGENCE GRP as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate INTERACTIVE INTELLIGENCE GRP (ININ) a HOLD. The primary factors that have impacted our rating are mixed some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures and good cash flow from operations. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself, unimpressive growth in net income and feeble growth in the company's earnings per share."