warned that its bottom line will break even in the third-quarter, an outlook that will cause the company to badly miss analysts' estimates.
The company, a provider of e-business collaboration software, attributed the shortfall to large customer order funding approval delays, as well as a decline in North American transactions. Structural Dynamics added that the fourth quarter is beginning with a "solid" start.
The company forecast third quarter revenue of about $105 million. Last year, the company earned 7 cents a basic share, including items, on revenue of $108.9 million.
First Call/Thomson Financial
survey of five analysts produced a mean earnings estimate of 25 cents a share for the company's third quarter. Structural Dynamics also said it will implement a freeze in hiring except in strategically critical areas.
Shares of the company were halted in late trading at $15.81, down 63 cents, or 3.8%, on
For the first nine months of the year, the company expects revenue to be about even with 1999. In the nine months ended Sept. 30, 1999, the company posted $328.1 million in revenue.