US database and tools company Informix issued a profit warning Monday, predicting net income for the second quarter of one to three cents per share on revenue of between $US240 million and $250 million, well below analysts' expectations. Earnings of 12 cents per share were predicted in a consensus poll of six analysts conducted by First Call/Thomson Financial.
The warning comes after two successive quarters in which the company has outperformed analysts' expectations.
Informix reported pro-forma net income for the year-ago quarter of six cents per share on revenue of $250.6 million, excluding nonrecurring charges. Final results for the most recent quarter, which ended June 30, are expected July 19.
There has been no revenue growth in any region, the company said in a statement. It blamed poor results in Europe on the strength of the US dollar.
The results also have been affected by the company's failure to move quickly enough into the market for new economy technologies, President and Chief Executive Officer Jean-Yves Dexmier said, according to the statement.
The company is also taking longer than planned to integrate Ardent Software, Inc., acquired on March 1, into its structure. The acquisition will not add to earnings this fiscal year, as was previously expected, Informix said.