Stock Watch: Primus Plummets on Revenue Warning

Primus Knowledge Solutions (Nasdaq: PKSI) fell 6 1/8 to 4 3/4 Tuesday after the company, which makes customer relations management software, said third quarter revenue will be below expectations.

The company said revenue for the quarter will be about $10 million, up from $6.9 million in the same period last year, but below expectations.

“While we are disappointed in not closing the business necessary to meet third quarter expectations, we remain confident of the strength of our product suite and the value proposition it offers,” said president and chief executive officer Michael Brochu.

Analysts at securities firms including Chase H&Q, First Albany, US Bancorp Piper Jaffray and Banc of America securities reportedly lowered their ratings on Primus after the announcement.

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