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Strategies & Market Trends : Rande Is . . . HOME
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To: Rande Is who wrote (4426)3/19/1999 9:40:00 AM
From: Rande Is  Read Replies (1) of 57584
 
CATP . . getting spanked for missing earnings. . .



Thursday March 18, 6:16 pm Eastern Time

Cambridge Technology sees lower Q1 EPS

CAMBRIDGE, Mass., March 18 (Reuters) - Software developer Cambridge Technology Partners Inc. said Thursday that its first quarter per share earnings would fall short of Wall Street's expectations, due to slower than expected sales.

The company said its per share earnings for the first quarter would range between 12 cents and 14 cents. Analysts had expected the company to earn 24 cents a share, according to First Call Corp.

Cambridge said revenues would range between $148 million and $151 milion for the quarter, noting that analysts had expected between $163 million and $170 million.

Looking beyond the first quarter, Cambridge also reported that its per share earnings for the year would come in at 72 cents to 74 cents a share, and that its annual revenues would likely total between $660 million and $675 million.

Those numbers also fall short of expectations. The company said analysts had predicted it would earn $1.06 and $1.15 a share for 1999 on revenues ranging from $750 million to $795 million.

Cambridge said it would report first quarter results on April 15.

Cambridge said it did not realize benefits of its North American reorganization initiatives as quickly as earlier expected, and that sales growth for the first quarter was lower than expected. In addition, a decrease in market demand for ERP software licenses dampened demand for its ERS package implementation offerings.
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