Updated from Jan. 15
Group 1 Software
shares spiraled down in after-hours trading Thursday after the company preannounced disappointing fiscal third-quarter results, citing a recent acquisition.
At about 9:50 a.m. EST Friday, shares of Group 1, which makes direct marketing and customer management software, were down $1.32, or 7.6%, at $16.01.
Group 1 said it now expects third-quarter revenue of about $30.6 million, short of the consensus estimate of $35.1 million gathered by Thomson First Call.
Net income for the quarter, excluding one-time charges related to the acquisition of assets of
during the quarter, will be approximately $1.0 million to $1.3 million, with earnings per share of 6 cents to 8 cents a share, the company said. Analysts were expecting 16 cents a share.
The decline in earnings was attributable to dilution from Sagent operations in the quarter, Group 1 said.,