lowered its guidance for the second quarter, citing a slowdown in information technology spending, and said Chief Financial Officer Randall Bolten has resigned from the company.
The company said Tuesday morning that it expects revenue of $52 million to $58 million for the quarter ended June 30. The company also forecast a loss, excluding noncash charges and nonrecurring items, of 17 cents to 20 cents a share.
Thomson Financial/First Call
, analysts expect BroadVision to post revenue of $84.8 million in the second quarter. Analysts also expect the company to lose 11 cents a share in the period. The company earned 4 cents a share in the year-ago quarter, on revenue of $95.3 million.
"Given the concerns surrounding the current market and our commitment to returning to profitability, we are continuing to focus on containing expenses," the e-business software developer said in a press release. "If conditions do not improve in the second half of the year, we are prepared to make additional adjustments in our spending policies and staffing levels. Likewise, if improving business conditions warrant, we will add resources to grow our business."
At the end of June, BroadVision had about 1,500 employees, a reduction of 32% from March 31.
BroadVision is searching for a successor to Bolten. He joined the company in 1995 and will step down from his main duties in late July. Terry Davis, the corporate treasurer, has been named interim chief financial officer.