Borland Software said Thursday that its second-quarter loss would be wider than expected and also announced that Dale Fuller stepped down as president and CEO, effective immediately. Scott Arnold, presently Executive Vice President and Chief Operating Officer, was named interim CEO. Citing a weaker than expected spending environment, particularly in Europe, Borland now expects to report second-quarter revenue of $65 million to $67 million and a net loss of 24 cents to 26 cents. Its previous guidance was for revenue of $70 million to $73 million and a net loss per share of 19 cents to 21 cents.
For the quarter, Borland projected a loss, excluding items, of one cent to three cents per share, compared with its prior forecast of a profit of zero to 2 cents. Analysts on average had forecast the company would post earnings of one cent a share, according to Reuters Estimates. Borland said Fuller will continue to serve on the board of directors.