Answerthink (ANSR) plunged 30% Wednesday after posting soft second-quarter sales and guiding to the same for the third quarter.
The Miami-based technology consultant made $2.1 million, or a nickel a share, up from the year-ago $1.2 million, or 3 cents a share. Revenue rose to $49 million from $42 million a year ago.
Analysts surveyed by Thomson Financial were looking for a 5 cent profit on sales of $50 million.
"Our initiatives to accelerate the growth of our membership advisory programs had a positive impact on our quarterly results," said CEO Ted A. Fernandez. "This is important to our long-term strategy because we believe that the clients who value continuous access to our benchmark data and related best practice insight will turn to us for our other Hackett and Best Practice Solution offerings as those needs arise."
The company forecast a third-quarter profit of 3 cents to 5 cents a share on revenue of about $44 million. Analysts were looking for a 7 cent profit on sales of $50 million.
Shares fell $1.23 to $2.82.