SkillSoft

(SKIL)

was falling after reporting an uneventful third quarter and warning revenue would be soft in the fourth quarter and next year.

The company earned $4.1 million, or 4 cents a share, in the three months ended Oct. 31, compared with a loss of $21.9 million, or 22 cents a share, last year. The latest quarter included a charge of 1 cent a share related to research and development. Revenue rose 1% from a year ago to $52.5 million. The results were in line with estimates.

For the current quarter, SkillSoft expects to earn 3 cents to 7 cents a share on revenue of $56 million to $61 million, down from old estimates of 11 cents to 13 cents a share on revenue of $64 million to $67 million.

The revenue shortfall reflects competitive pricing on larger contracts, delayed or non-renewed contracts from "more cautious" customers, delayed reseller sell-through and a smaller contribution from its SmartCertify unit.

The company plans to cut about 120 jobs in Ireland and 13 in New Hampshire as part of a restructuring that will result in more outsourcing.