HearMe (Nasdaq: HEAR) sees lower-than-expected third quarter revenue, though its fourth quarter forecast remains the same as before.
After market close Tuesday, the provider of PC telephony technology said it expects to report third quarter revenue ranging between $6 million and $6.5 million, or 27.8 to 33.3 percent below analyst forecasts of around $9 million. Tight controls on costs will ease the effect on HearMe's earnings, the company said.
First Call's survey of four analysts predicted loss of 27 cents per share for the third quarter.
Shares of HearMe slid to 5 in afterhours activity on the Island electronic communications network, following the revenue warning. HearMe stock closed Tuesday's regular trading at 6.8125, up 0.4375 for the session.
Company executives blamed longer-than-expected deployments of voice-over-IP products for the revenue shortfall.
"These involve major changes in how our partners create and deploy new VoIP applications," CEO Rob Csongor said. "Working out the details of this s hard and is taking a bit longer to complete. Our strategy is completely unchanged."
HearMe's fourth quarter outlook is unchanged. First Call consensus currently predicts a loss of 17 cents per share in the fourth quarter.>