Irvine’s Epicor Software Corp., a maker of business software for manufacturers and retailers, on Tuesday gave an outlook for the current quarter that fell short of Wall Street’s expectations.
Investors seemed to shrug off the news.
Shares closed up 3% on a recent market value of $415 million. The stock was roughly flat in afterhours trading.
Epicor said it expects third-quarter adjusted profits of $5.5 million to $6 million on sales of $96 million to $100 million.
That’s short of the $7 million in profits on sales of $106 million analysts had been expecting.
The outlook comes on the heels of Epicor’s second-quarter results, which fell short on sales but beat on profit expectations.
For the three months through June, Epicor reported sales of $100 million, down 22% from a year earlier and short of analysts’ expected $102 million in revenue.
Excluding charges for restructuring, stock compensation and write-downs on assets, the company posted profits of $7 million, down 35% from the year-ago quarter and beating analysts’ expectation of about $6 million in profits.
The company ended the quarter with $86 million in cash.
