GAITHERSBURG, Md. (AP) — Telecommunications software company BroadSoft Inc. on Monday posted a third-quarter loss and its outlook was worse than Wall Street expected. Shares fell sharply in after-hours trading.
NUMBERS: The company's loss in the three months through Sept. 30 was $4.1 million, or 14 cents per share, compared with a profit of $3.1 million, or 11 cents per share, in the same months a year ago.
Excluding the cost of compensating executives with stock and other items, the company said it posted a profit, of 29 cents per share. Analysts polled by FactSet predicted 30 cents per share.
Revenue grew 7 percent to $42.9 million, also below the $45.2 million expected.
FUTURE: The company has "short-term concerns about the service provider spending environment" in the current quarter, CFO Jim Tholen said in a statement. For the fourth quarter, BroadSoft expects revenue of $47 million to $53 million, below the $54.8 million analysts had been looking for. It also forecast adjusted earnings of 34 cents to 49 cents per share, weaker than the 51 cents analysts were expecting.
STOCK: Shares fell $5.99, or 18 percent, to $27.15 in after-hours trading. Earlier, shares closed the regular session up 17 cents at $33.14.