Aspect Communications Corp. (Nasdaq: ASPT) lost more than half its value Tuesday after the San Jose, California-based provider of customer relationship portals said second-quarter results will be below analysts’ estimates. Aspect fell 23 7/8 to 20 following the news.
Revenue for the quarter will be between $137 and $139 million, up from $112 million in the same period last year. Pro forma earnings before asset amortization — but including a 6-cent per share gain from the sale of securities — will total between 1 and 3 cents a share, well below the expected 8 cents.
The company blamed the weaker-than-expected results on a decline in business in one of its North American regions, a delay in the award of federal government contracts and a faster-than-expected decline in the hardware platform business.
“We are disappointed at the revenue levels in the second quarter, but the issues that surfaced very late in the quarter are isolated and are being corrected,” said President and Chief Executive Officer Beatriz V. Infante. “We will continue to focus on expanding our channels to market, including systems integration and distribution partnerships, in addition to augmenting our direct sales force.”