InterWorld Corp. (Nasdaq: INTW) fell 5 15/32 to 3 11/16 Friday after the e-commerce software maker said third quarter results will be worse than previously expected.
Revenue for the quarter will be between $14 million and $18 million, resulting in a loss before items of 35 to 43 cents per share, InterWorld said.
“After eight consecutive quarters of sequential revenue growth, we are now experiencing the effects of longer sales cycles in our deals concurrent with softness in the B2C sector,” said president and chief executive officer Jeremy Davis. “However, we remain optimistic about the strong demand for sell-side B2B e-commerce software solutions.”
Analysts were looking for a loss of 18 cents per share for the third quarter, according to First Call/Thompson Financial.