posted a smaller-than-expected loss in its third quarter and predicted the same thing will happen in the fourth.
Excluding numerous items, the manufacturing software maker lost $7.6 million, or 11 cents a share, in the third quarter on revenues of $68.7 million, down from $70 million a year ago. Software revenues were $22.1 million in the third quarter, down from $35.8 million a year ago. Analysts had been expecting a loss of 16 cents a share.
For the fourth quarter the company expects an adjusted pro forma loss of between 5 and 7 cents a share; analysts were expecting a loss of 10 cents a share. It expects to achieve operating profitability in the quarter beginning this March.
The company's shares rose as high as $18.36 in after-hours trading Thursday after closing the regular session at $15.84.