QAD (QADI) Shares Tumble 12% After Guidance Lowered
By Daniel James Hayden IV
May 17, 2010 7:15 PM
May 17, 2010 7:15 PM
Shares of QAD Inc. (Nasdaq: QADI) were down nearly 12% at $5.03 per share on Monday during after hours trading, after it announced that it expects to report quarterly results worse than it previously forecast.
The the software company said it expects to report a 1st quarter loss of 4 cents or 5 cents per share, as opposed to its earlier forecast of expected net income of 3 cents per share.
QAD Inc. said it expects revenue to come in at $50 million to $51 million, which is lower than its earlier revenue forecast of $54 million.
QAD Inc. is scheduled to release its 1st quarter financial results on May 27.
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