Updated from 7:44 a.m. EDT
, a computer consultant and maker of products that detect bugs in software programs, is the latest tech company to warn Wall Street that its quarterly earnings won't match expectations.
The company announced Friday that it expects to lose 33 cents to 38 cents per share in the second quarter, off 74% to 100% from the analyst consensus of a 19-cent loss per share, according to research firm
First Call/Thomson Financial
. The company lost 31 cents per share in the second quarter of last year.
The Redmond, Wash-based company said it expects second-quarter revenue to come in between $7.1 million and $7.4 million, compared to $7.4 million in the comparable 1999 quarter.
"Our quarterly results reflect soft demand in certain Asian markets, as well as a longer sales cycle for certain customer software projects," said Stephen Verleye, the company's president and chief executive officer. "As we have stated in the past, we have changed our sales focus to software sales in major accounts. While this transition has contributed to slower revenues during the first half of the year, we are receiving positive feedback from our target markets and we continue to believe that this strategy should yield improving results going forward."
Applied Microsystems closed Friday regular trading down 11/16, or 10%, at 6 3/16.
Applied Microsystems is only the latest tech company to issue a profit warning. Thursday,
warned that its quarterly earnings would be off estimates, and Wednesday a handful of companies, including
, all said
earnings would fall short of estimates. And late Monday, well after the market had closed for the July 4th holiday,
announced that its quarterly results would miss analysts' forecasts.