reaffirmed its second-quarter guidance Monday morning, and the company said it would see net customer growth.
The company, which provides sourcing software and service solutions, reiterated its expectations of earnings per share of between 5 cents and 7 cents on revenue of $47 million. Analysts polled by Thomson Financial/First Call are expecting 6 cents on revenue of $47.65 million.
In a press release, FreeMarkets said it also expected to see net customer growth for the quarter.
The guidance comes after shares of FreeMarkets plunged about 15% Friday on
rumors that the company would bring down its forecast by as much as 40% on decreasing usage and lack of new subscribers, although the rumors didn't specify which time period the decline applied to.
Shares of FreeMarkets closed Friday at $11.19.