provided updated guidance for the fourth quarter, saying it expects postsplit earnings per share in the range of 6 cents to 9 cents on revenue of about $22 million. The revised estimate was below analysts' expectations.
For fiscal year 2001, the provider of computer and online course work now expects revenue of $70 million and postsplit earnings per share between 27 cents and 30 cents. Earlier this year, the company had expected revenue of $75 million to $77 million and presplit earnings per share between 76 and 78 cents.
The company attributed the adjustment to states and schools delaying fourth-quarter purchases to focus on safety and security issues. Shares of Plato closed up 60 cents on the Nasdaq, but have since lost about a dollar in Instinet trading after the company issued its revised forecast.