Optio Software Inc. (Nasdaq: OPTO) fell 3/4 to 3 1/8 Thursday after the Atlanta, Georgia-based e-business software maker reported a second quarter loss.
Revenue for the quarter rose 25 percent from a year earlier to $10.23 million, but the company posted a net loss of $3.34 million, or 19 cents per share, compared with income of $660,000, or 3 cents, in the year-earlier quarter.
The company blamed the shortfall on slower-than-expected sales of software licenses for its information customization and delivery products. While the sales operation is being overhauled, the company said it will be three to four quarters before cash earnings return to positive territory. Revenue for the second half of the fiscal year will “exhibit little growth,” Optio said.
Analysts at Merrill Lynch and Robinson Humphrey reportedly downgraded Optio shares following the news.