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BMC Software (NASDAQ: BMC) reported an 11% drop in its fiscal third-quarter earnings and lowered its forecast for the fiscal year.

BMC Software now projects earnings of $3.35 to $3.45 per share, versus its earlier forecast of $3.49 to $3.59 per share.

BMC Software's quarterly profit fell to $106.3 million, or $0.70 per share, from $119.9 million, or $0.71 per share, in the year-ago period. Excluding one-time items, its adjusted earnings came in at $0.99 per share.

Its revenue rose 5.8% to $580.2 million. However, analysts were expecting earnings of $1.01 per share on revenue of $587 million.

BMC Software shares closed at $44.48 yesterday.

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