RadView Software (Nasdaq:RDVW), a provider of functionality, scalability and integrity testing solutions for web applications, issued a profit warning for the third quarter.
The company expects to post revenues of $1.7 million in the quarter, 30% below its previous forecast of $2.4 million to $2.6 million. But it expects to do better at the bottom line with a pro forma loss per share of 24 cents, against previous expectations for a loss of 25 to 27 cents.
The pro forma loss does not include restructuring, streamlining, one-time and share compensation expenses.
Company CEO and president Ilan Kinreich said the low revenues result from a particularly weak September, especially in North America, where several deals were either delayed or frozen.
In spite of the low revenues, he said that the company's cost-cutting measures resulted in a slightly narrower than expected loss.