Robertson, Stephens & Company Lowers Rating on Project Software
and Development
PR Newswire - April 03, 1997 10:22
SAN FRANCISCO, April 3 /PRNewswire/ -- Robertson, Stephens & Company
research analyst Eric Upin lowered his estimates today on Project Software and
Development (Nasdaq: PSDI) and lowered rating to Long-Term Attractive.
PSDI pre-released preliminary Q2:97 results with numbers measurably below
Street's expectations. Revenues were reported at $22.0 million, 13% short of
expectations, and EPS at $0.15, 57% below estimates.
PSDI is a client/server applications software company, providing fully
integrated maintenance operations and facilities management software
solutions. The company maintains a leading position in the growing
maintenance operations market.
"We believe the PSDI's performance was affected by weakness in the
European market, increasing field of competitors, and some intra-company
weaknesses," Upin said. His EPS estimates for F1997 and F1998 are $0.98 and
$1.26, respectively.
Robertson, Stephens & Company is a leading international investment
banking firm focused on emerging growth companies. The firm's 35 senior
research analysts cover over 450 companies. |
