Bad move, bad news: Maybe this is why the stock moved down. I'm trying to decide if this is a temporary issue, which it probably is. Nonetheless, PSDI will likely get clobbered tomorrow.
PSDI Announces Preliminary Second Quarter Results
CAMBRIDGE, Mass., April 1 /PRNewswire/ -- PSDI (Nasdaq: PSDI) today
announced that, based on preliminary estimates, second quarter revenues ending
March 31, 1997, will be $22 million, compared to $16 million in the same
period of last year, representing an increase of approximately 34%, and
earnings per share will be $0.15, compared to $0.24 in the same period of last
year. Final results for the second quarter will be reported on April 17,
1997, after the close of the stock market.
Total revenues for the quarter from PSDI's client/server product, MAXIMO,
grew by more than 50% and software license revenue grew by more than 30%
compared to the same period in the prior year.
Contributing to this quarter's slower than expected revenue growth rate
was the continued shortfall in ADvantage revenues combined with softness in
Europe. PSDI's second quarter historically has been one of the more difficult
quarters and the convergence of these events resulted in this quarter's lower
than anticipated performance.
PSDI develops, markets and supports applications software used by
businesses, government agencies and other organizations to assist them in
maintaining high-value capital assets such as plants, facilities and
production equipment. The Company's products are designed to enable customers
to reduce down-time, control maintenance expenses, cut spare parts inventories
and costs, improve purchasing efficiency, and more effectively deploy
productive assets, personnel and other resources.
The statements made in this release that are not historical facts are
forward-looking statements and are made pursuant to the safe harbor provisions
of the Private Securities Litigation Reform Act of 1995. Investors are
cautioned that all forward-looking statements involve risks and uncertainties,
including without limitation risks related to delays in product development
and new product introductions, rapidly changing technology, an intensely
competitive market, market acceptance of new products, foreign operations and
general economic conditions. Each of these factors, and others, are discussed
more fully in the Company's Form 1O-K and the Company's other filings with the
Securities and Exchange Commission.
SOURCE PSDI |
