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Tech Industry

Wind River Systems falls flat in 4Q

    Wind River Systems fell short of analysts' estimates in its fourth quarter Thursday, earning $8.9 million, or 19 cents a share, on sales of $53.4 million.

    First Call consensus expected the software developer to pocket 21 cents a share in the quarter.

    Its shares fell 3 1/2 to 57 ahead of the earnings report.

    The $53.4 million in sales marks a 36 percent improvement from the year-ago quarter when it earned $8.5 million, or 19 cents a share, on sales of $39.2 million.

    For the year, it raked in $27.2 million, or 61 cents a share, on sales of $171.2 million, up 30 percent from fiscal 1998 when it earned $26.1 million, or 60 cents a share, on sales of $132 million.

    Despite missing the Street estimate, CEO Tom St. Dennis tried to put a positive spin on the quarter.

    "I am extremely pleased with what we were able to accomplish in (the fourth quarter," he said in a prepared release. "I am grateful to our employees for embracing all of our corporate initiatives with such enthusiasm."

    Wind River (Nasdaq: WIND) shares moved up to a 52-week high of 66 1/8 in February after falling to a low of 11 1/4 in April.

    Five of the six analysts covering the stock maintain either a "buy" or "strong buy" recommendation.

    First Call consensus expects it to earn 77 cents a share in fiscal 2000.