became the latest software company to complain of a weak quarter Thursday, sending its shares down 12%.
The Scotts Valley, Calif., software delivery specialist said it expects to make 2 cents a share, excluding certain costs, on revenue of $71 million for its first quarter. That's well short of the 8 cents a share on revenue of $79 million the company had previously guided toward.
The company also trimmed second-quarter guidance, saying it expects revenue to be flat sequentially. That puts it around $71 million. Wall Street analysts were expecting $83 million.
"Borland experienced slower closure rates in both the U.S. and Europe, particularly for large-scale transactions, combined with a weaker than expected spending environment," the company said. "Additionally, the Company noted a greater than anticipated decline in revenue from JBuilder, its Java IDE offering."
Borland said it would try to restructure in the second quarter but that it didn't expect job cuts.
This week has seen a number of warnings from other software companies, notably including
Late Thursday, Borland slipped 89 cents to $6.60.