Enterprise software provider
became the latest in a long line of software companies expecting a current-quarter shortfall with its warning Monday morning that its third-quarter revenue and earnings will fall short of estimates.
Hummingbird expects to lose about 9 cents to 11 cents a share. On an operating basis, the company sees earnings of 24 cents to 26 cents, falling short of the consensus analyst estimate of 32 cents provided by Thomson Financial/First Call.
Revenue for the quarter is expected to be around $43 million to $44 million, missing the consensus of $48.23 million.
In a press release, the company blamed the shortfall on the rough economic climate. Hummingbird said, "Due to the continuing difficult economic environment, software sales continued to remain under pressure. The ability of our customers to spend remains constrained."
Shares of Hummingbird closed Friday at $18.70 before the warning.