Shares of Epicor Software Corp., a maker of business software, slumped on Wednesday after the company reported an outlook for the current quarter that falls short of Wall Street’s top-line expectations.
Investors sent shares tumbling 5% in afterhours trading on a recent market value of $650 million.
Epicor said it’s expecting sales of $104 million, roughly flat from a year earlier and short of analysts’ expected $106 million in revenues.
The company expects adjusted profits of about $7 million to $9 million, up a bit from a year ago and in line with Wall Street’s expectations of $8 million in profits.
The outlook comes on the heels of Epicor’s first-quarter results, which were nothing to write home about.
For the three months through March, Epicor saw sales of $99 million, roughly flat from the same period a year earlier and just shy of analysts’ expectation of $100 million in revenues.
Excluding charges for stock compensation, income taxes, restructuring and other one-time costs, the company posted $6 million in profits, up 21% from the year-ago quarter and in line with analysts’ expectations.
Epicor’s software helps retailers, manufacturers and financial services companies manage their customers, among other operational tasks.
It ended the quarter with $105 million in cash and short-term assets.
