said it was comfortable with analyst estimates for the current quarter, but the company warned that its third-quarter and full-year results would fall short of expectations.
The company, which designs software for use in retail business, expects to see second-quarter earnings per share of 9 cents to 10 cents on revenue of $60 million to $61 million, with software revenue in the range of $45 million to $46 million. Analysts polled by Thomson Financial/First Call are looking for 10 cents on revenue of $59.59 million.
Commenting on the expected results, Retek said it was "disappointed" with its new business volume signed in the quarter.
Looking ahead, the company expects to earn 2 cents to 4 cents a share in the third quarter on revenue of $52 million to $54 million in the third quarter, missing the consensus estimate of EPS of 12 cents on revenue of $64.99 million.
For the full year, Retek said it will earn about 25 cents to 30 cents on revenue of $215 million to $230 million, short of the consensus of 43 cents on revenue of $249.56 million.
The company added that it has withdrawn its previous 2003 guidance until it "can determine the future trend and volume of deal closings."
Shares of Retek were hit hard, falling 54% to $7.97.