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InforMax Warns of Significant Q1 Revenue Drop

For an updated version of this story, please click here.

 

NEW YORK, April 5 -   InforMax on Thursday blamed a lack of bookings and delayed and deferred purchase decisions by potential customers for a weakened first-quarter that includes significantly lower revenue and a widened net loss.

The company said that revenue for the quarter ended March 31 will be $3.7 million, a 44 percent drop from the $6.6 million it reported during the same period one year ago. Total bookings fell off 45 percent to $3.9 million, it said.

Informax said it now expects a loss of $6.9 million, or $.27 to $.28 a share, excluding noncash charges related to stock-based compensation and a $775,000 charge tied to organizational restructuring.

The is a significant slide: In February, InforMax said it expected a loss of $.20 to $.22 per share before items. Analysts were expecting a loss of $.21 per share.

 

The firm has scheduled a conference call this morning.

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