The chief executive of software integration firm webMethods said Wednesday the company will post a narrower loss than Wall Street's current estimates for its fiscal third quarter and that revenues would exceed the consensus expectation.
"We believe that we will comfortably exceed the top of the range of analysts estimates for the quarter ended Dec 31," CEO Phillip Merrick told Reuters in a telephone interview.
Analysts on average were expecting webMethods -- which makes software that lets disparate computer systems share information -- to post a loss of 17 cents a share, with a range of a loss of 23 cents to 13 cents a share on revenues of $41.73 million, according to Thomson Financial/First Call.
On Tuesday, the CEO had said the company was comfortable with Wall Street estimates for its third quarter but on Wednesday contacted Reuters to revise its guidance.
Shares of webMethods closed up 1.57 percent, or 32 cents, at $20.65 on the Nasdaq, well off their year-high of $98.37.
Copyright 2001 Reuters Limited. All rights reserved.
Republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Reuters.
Reuters shall be not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.