SeeBeyond (SBYN) was up 31.1% in preopen Instinet trading, a day after the integration software company named Ray Lane chairman of its board and warned that third-quarter revenue would be below analysts' expectations.

Lane was president of software giant

Oracle

(ORCL) - Get Report

until June 2000, and is a partner at the venture firm Kleiner Perkins Caufield & Byers.

SeeBeyond said it will post a loss of 6 to 7 cents a share for the third quarter, in line with expectations, on revenue between $41 million and $42 million, below the $50 million analysts were expecting.

For the fourth quarter, SeeBeyond said it expects 1 to 4 cents a share, on revenue of $40 million to $42 million. According to Multex.com, analysts were expecting the company to break even during the fourth quarter.