warned that it would post a first-quarter loss and that its revenue would be below estimates.
The company now expects to see a loss of about $14 million to $16 million, or about 24 cents to 28 cents a share. In the year ago period, the company posted net income of $8.8 million, or 14 cents a share. Analysts were expecting a profit of 2 cents a share, according to Thomson Financial/First Call.
Revenue for the quarter is expected to be about $55 million to $56 million, down from $73.6 million in the year-ago quarter. The company originally forecast revenue of $63 million to $65 million and earnings of 1 cent to 3 cents a share.
Shares of RSAS were recently down 15% to $7.64 on the news.