Business Services Industry
Software Artistry Inc. Stock Falls to 52-Week Low, Then Rebounds.(Originated from The Indianapolis Star and News)
Knight Ridder/Tribune Business News, April, 1996 by Key, Peter
Apr. 10--Software Artistry Inc. stock fell to a 52-week low of $6.75 Tuesday, but rebounded to close at $8, off 24 percent, or $2.50.
The Indianapolis-based company and securities analysts attributed the drop to an announcement late Monday that first-quarter earnings and revenues "are expected to be below plan."
Software Artistry said Monday it expects first-quarter revenues to range from $6 million to $6.2 million and per-share earnings to range from nothing to a negative two cents.
Brian Skiba, a securities analyst with Cowen & Co., said the revenue figures were $400,000 to $500,000 below consensus estimates. Earnings estimates were around 4 cents per share, he said.
"In this environment, if you miss your numbers, you're put in the penalty...
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