Logility (Nasdaq: LGTY) missed the consensus estimate by a wide margin in the first quarter.
After market close Monday, the provider of software and services for online exchanges and other business-to-business commerce reported a fiscal first quarter net loss of $760,000, or 6 cents per share. The lone analyst surveyed by First Call predicted a profit of 2 cents per share for the quarter ended July 31.
The company has reported disappointing financial results for two quarters in a row. Logility posted a loss in the fourth quarter.
First quarter revenue fell 17 percent year-over-year to $6.9 million. License fees dropped 57 percent to $1.9 million, service revenue increased 30 percent to $2.4 million and maintenance revenue rose 20 percent ot $2.7 million.
Logility is trying to improve its sales channels, said J. Michael Edenfield. The company recently signed a distribution deal with Great Plains (Nasdaq: GPSI), a seller of business software. Logility has hired new sales executives and formed an e-Business unit, Edenfield said.
Shares of Logility fell 1/4 to 4 1/8 in Monday's regular trading, prior to the release of quarterly results.>