To All: Well, with this bit of news looks as though Mapics will get a chance to buy back shares cheap. JDN
MAPICS <MAPX.O> sees lower Q2 earnings, weak revs
ATLANTA, April 5 (Reuters) - Software maker MAPICS Inc. said Monday its fiscal second quarter earnings will be down from a year earlier and revenues will be lower than anticipated due to a slowdown in the enterprise resource planning (ERP) software market.
Dick Cook, president and chief executive officer, said in a statement, "We expect a slight increase in total revenues from a year ago for the second quarter, but we believe that earnings will be well below the year-earlier level. Conditions within the ERP market as a whole are making it very challenging to realize our growth objectives."
The company is experiencing delays in sales and a general slowdown in demand, which it believes is driven by "the impending year 2000 event."
Results for its second quarter, ended March 31, will be released on April 27.
For year-ago second quarter, MAPICS reported revenues of $29 million and net income of $3.6 million, or $0.16 per diluted share.
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