An earnings warning sent InterVoice-Brite (Nasdaq: INTV) plunging Wednesday.
Shares of the provider of call automation systems fell 6 15/16 to 6 5/8 in early action Wednesday. The company on Tuesday said it expects to report a fiscal first quarter loss ranging between 3 cents and 5 cents per share.
First Call's survey of eight analysts had predicted a profit of 25 cents per share for the quarter ended May 31.
Revenue in the first quarter ranged between $67 million and $68 million, the company estimated. If the recently closed merger with BriteVoice had occurred at the start of the fiscal year, the combined company would have seen revenue of $76.5 million.
Losing some sales representatives hurt Intervoice-Brite's ability to close several deals in the first quarter, said Dan Hammond, CEO and chairman.
"The challenges of recruiting and training qualified sales personnel, transitioning customer relationships and resuming sales momentum make it unlikely that the first quarter sales shortfall will be fully recovered during fiscal 2001," Hammond said.
InterVoice-Brite announced one large deal on Tuesday, a $14 million order from First Union.>