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Great Plains falls after Y2K warning
By Chris Kraeuter, CBS.MarketWatch.com Last Update: 6:37 PM ET Jun 8, 2000 NewsWatch Latest headlines
FARGO, N.D. (CBS.MW) -- Great Plains Software shares dropped after the company warning about weak fourth-quarter results.
Great Plains (GPSI: news, msgs) shares fell 18 3/4, or 46 percent, to 21 5/8 on volume of 5.67 million shares.
The Fargo, N.D., e-business software firm said fourth-quarter revenue will fall between $58 million and $60 million, still representing a 45 percent to 50 percent increase from the same period a year earlier.
The company cited a continuing post-Y2K sales slowdown for the shortfall.
The lower revenues will result in fourth-quarter operating earnings of between 5 cents and 10 cents a share, below First Call's average earnings estimate of 32 cents a share.
------ Chris Kraeuter is a reporter for CBS.MarketWatch.com. http://cbs.marketwatch.com/archive/20000608/news/current/gpsi.htx?source=htx/http2_mw
-- (Dee360Degree@aol.com), June 09, 2000