Shares of Santa Ana’s MSC.Software Corp., which makes software used by manufacturers to test their designs, fell Wednesday after the company lowered its sales outlook for the third quarter.
The stock initially fell as much as 7% on a market value of about $632 million after the company gave a first look at sales that fell short of analysts’ expectations.
Its shares later recovered the loss and ended flat on Wednesday.
MSC.Software expects revenue of about $57 million for the quarter, short of the $61 million Wall Street was looking for.
The company reported sales of about $58 million in the year-ago quarter.
MSC.Software didn’t say why sales were down.
Analysts are looking for the company to post profits of about $2.2 million in the third quarter.
The company fell short of analysts’ expectations for the first quarter.
MSC.Software took a restructuring charge of about $7 million on its books in the first quarter, due to costs from a big round of job cuts earlier this year.
It plans to report third-quarter results on Nov. 9.
