Informax Puts 3Q Oper Loss 21c-22c/Share
Dow Jones Newswires
BETHESDA, Md. -- InforMax Inc. (INMX) warned it will post a
wider-than-expected third quarter loss before noncash charges due to the
weak economy and delays in customer purchasing decisions.
In a press release Monday, InforMax said it expects a third quarter loss of 21
cents to 22 cents a share, compared with an earlier loss estimate of 13 cents
to 15 cents a share. Analysts were expecting a third quarter loss of 14 cents a
share.
The software company now sees third quarter revenue of $4.7 million, down
from previous guidance of $8.4 million.
In the year-ago third quarter, InforMax lost 25 cents a share before items, on
revenue of $4.9 million.
InforMax said the revenue shortfall in the third quarter was partly offset by
savings achieved from on-going cost management efforts. Excluding the effect
of costs tied directly to revenue, such as sales commissions, the company
reduced its operating cost running rate in the third quarter by about $1 million.
This focus resulted in an offset of 35%, or a positive 5 cents a share, of the
adverse profit impact due to the quarter's revenue softness.
InforMax said it is on track to achieve profitability by the fourth quarter of
2002.
Third quarter total bookings were $3.3 million, down 27% from last year.
Bookings represent the total face amount of contracted sales of company
products and services in the period.
Company Web site: informaxinc.com |
