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BMC Software to take $16 million charge in 1Q, layoff 275 workers

Software developer BMC Software Inc. (Nasdaq: BMCS) said Thursday it will take a $16 million charge in its first quarter and layoff 275 employees as a result of several large acquisitions in the past year.

Company officials said the layoffs and charges are a byproduct of integrating the acquisition of Boole & Babbage Inc. for $900 million and gobbling up New Dimensions Software Ltd. for $650 million.

First Call consensus expected BMC to earn 40 cents a share in the first quarter.

Last quarter, BMC easily hurdled analysts' estimates, raking in $115.7 million, or 47 cents a share, on sales of $386.5 million.

Its shares motored up to a 52-week high of 60 1/4 in October before plummeting to a low of 30 in April.

Twenty-five of the 27 analysts following the stock rate it either a "buy" or "strong buy."

BMC is expected to earn $1.96 a share in the fiscal year.