Openwave Systems Inc. said it expects to report revenues of between $83 million and $84 million for its fiscal second quarter, which ended Dec. 31., a number that falls short of analyst estimates of $88.8 million.
The company said it recorded bookings of about $120 million for the quarter. Net loss is expected to come in at between 8 cents and 9 cents per share, higher than analyst expectations of net loss of 1 cent per share.
Openwave’s stock was down around five percent after the news.
The company also announced its board of directors authorized a repurchase program of up to $100 million scheduled to begin later this month.
The company offered guidance for the third quarter, including revenues of between $85 million and $90 million and breakeven earnings. For the fourth quarter it expects revenues of between $90 million and $95 million.
Openwave down on revenue warning
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