UPDATE 3-Informatica estimates weak quarter, shares slump
* Sees Q2 adj EPS $0.27-$0.28 vs est $0.37
* Sees Q2 rev $188 mln-$190 mln vs est $217.2 mln
* Shares down over 26 pct after market
July 5 (Reuters) - Data-integration software maker Informatica Corp estimated second-quarter results below analysts' expectations, a s customers delayed contracts and deal sizes shrank on challenging business conditions in Europe, sending its shares down more than 26 percent after the bell.
Uncertainty in Europe, the company's second-largest market that brought in a quarter of its revenue last year, has hurt two of his top segments - financial services and public sector. Revenue for 2011 was $784 million.
"Clearly, we did not adapt as rapidly as we should have to the changing macroeconomic environment, especially in Europe," Chief Executive Sohaib Abbasi said.
Informatica, which helps companies access, integrate, and consolidate data, counts Dell Inc and BNY Mellon among its customers.
The company expects adjusted earnings of 27 cents to 28 cents per share on revenue of $188 million to $190 million.
Analysts on average were expecting earnings of 37 cents on revenue of $217.2 million, according to Thomson Reuters I/B/E/S.
Abbasi said he was "disappointed" that the company fell short of its own expectations, and it would look at "operational discipline" for growth in the second half of 2012 and beyond.
Informatica shares, which closed at $43.37 on the Nasdaq, were trading at $31.80 after the bell.
- Tweet this
- Share this
- Digg this
- UPDATE 2-Malaysia Airlines plane returns safely after landing gear scare
- On Easter, Pope calls for end to war, condemns waste exacerbating hunger
- Abdullah widens lead in Afghan presidential vote - latest count
- Australia sees "regroup" on Malaysian plane search in a few days
- Bangalore-bound Malaysia Airlines plane to make emergency landing