SCT will report fourth quarter earnings far below what analysts expected.
After market close Monday, the technology services provider said it sees fiscal fourth quarter earnings ranging between 9 cents and 13 cents per share. First Call's survey of five analysts predicted a profit of 25 cents per share for the quarter ending Sept. 30.
Shares of tumbled to 12.0625 in afterhours activity on the Island electronic communications network, immediately following the earnings warning. SCT stock closed Monday's regular trading at 17, down 0.5625 for the session.
The company gave no immediate reason for the earnings shortfall, although it has a conference call scheduled for Tuesday morning. SCT sees more than $105 million in fourth quarter revenue, which includes strong results for the company's education business, said Michael J. Emmi, chairman and CEO.
Besides education, SCT targets energy, utilities, communications and manufacturing markets.>