Group 1 Software Lowers Revenue Guidance

Earnings will still be in line with forecasts.
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Group 1 Software

(GSOF)

said it expects first-quarter earnings to increase by at least 57%, but said revenue will come in slightly below plan.

The company sees quarterly earnings of $1.5 million to $1.8 million, or 9 cents to 11 cents a share, within range of analysts' expectations of 10 cents a share. The company earned 7 cents a share a year ago.

Second-quarter revenue is expected to be $23.6 million to $23.9 million, slightly up from last year's $23.38 million. Group 1 said, however, that the revenue expectation is not consistent with its full-year guidance of a 10% to 12% revenue increase, saying several transactions did not close by June 30.

The company also confirmed its full-year earnings forecast of an increase of 24% to 28%. Analysts expect 71 cents a share. Group 1 earned 59 cents a share last year.

Lanham, Md.-based Group 1 will release results on July 29. Shares closed at $18.26 Thursday.