BMC Shares Rise On Earnings Update

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BMC Software shares rose nearly 5 percent Tuesday morning after the software management vendor said it expects to beat Wall Street analysts' earnings estimates for the third quarter.

Shares of BMC traded up 99 cents to $21.12.

After the market closed Monday, Houston-based BMC reported preliminary earnings estimates for the quarter ended Dec. 31, excluding charges, of $18 million to $23 million, or 7 cents to 9 cents per share.

Analysts expected the company to earn 6 cents per share, according to First Call/Thompson Financial.

BMC expects revenue for the quarter to range from $312 million to $319 million.

"We produced some very solid competitive wins during the quarter and experienced sequential revenue improvements in both North America and international markets," said Bob Beauchamp, president and CEO of BMC, in a statement.

During the quarter, BMC said it planned to cut 7 percent of its staff, dropping its head count to about 6,324, down from 6,800.

BMC plans to report complete third-quarter financial results on Jan. 24 after the market closes.

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