The graphics software company said it sees a fourth-quarter net loss to be in the range of 46 cents to 54 cents per share. Analysts polled by First Call expected the company to post a profit of 4 cents.
Richardson, Texas-based Micrografx said that for the quarter ended June 30, 1999, it expects revenue to be in the range of $10 million to $10.5 million.
The projected fourth-quarter loss excludes charges of approximately $1.9 million, or 17 cents a share related to the company's acquisition of InterCAP Graphics Systems in April.
"Our results for the quarter are not acceptable and we have already taken steps to reduce our costs to ensure we remain fiscally healthy," Micrografx chief executive Doug Richard said in a statement. He added: "Going forward, we recognize reduced expenses after having aligned the Micrografx and InterCAP development teams and support services groups to fit the company's core strategy."
The company is slated to report fourth-quarter results on August 5.