Art Technology (ARTG) fell 11% after the online marketing company warned of soft third quarter numbers.
The Cambridge, Mass., company, led by CEO Bob Burke, said it expects to lose a penny a share for the third quarter on sales of $21.3 million. Analysts were looking for a 3-cent profit on sales of $25 million.
"While our revenue this quarter came in below street expectations due to a delay in completing a number of license deals in the third quarter, we believe these deals will be recognized in the fourth quarter," said Burke, who is also president. "This gives us confidence to reaffirm our previously provided guidance based on organic revenue performance."
The company expects to make 11 to 14 cents a share on revenue of $97 million to $105 million for the year. Analysts were looking for a 13-cent profit on sales of $102 million.
Shares fell 30 cents to $2.