Epicor Software Corp., an Irvine-based maker of business software, gave an outlook for the current quarter that fell short of Wall Street’s expectations.
The company said it expects second-quarter profits, excluding charges, of $4.8 million to $5.4 million.
Wall Street analysts, on average, are looking for profits of about $8 million.
The company projects sales of $100 million to $105 million, versus the $113 million expected by analysts.
Chief Executive George Klaus gave a hopeful but cautious outlook.
“We saw business improve as we progressed through the first quarter, and we had a relatively strong March,” he said. “We are continuing to see indications that customers may be more willing to move forward with projects, and we expect to see improvement in our top and bottom line results throughout the year. That said, economic uncertainty abounds and we will continue to take what we believe is a prudently cautious approach with our revenue and earnings expectations.”
The worse than expected guidance comes on the heels of Epicor’s first-quarter results, which beat expectations on profits but came in just shy on sales.
Epicor reported sales of $99 million, down 5% from a year earlier and just shy of analysts’ expected $102 million in revenue.
Excluding charges for stock compensation, restructuring and other costs, the company posted $5 million in profits, up 15% and beating analysts’ expected $4 million in profits.
Epicor makes software that helps manufacturers, retailers and other businesses manage their back office tasks and keep track of customer data.
