Telemate.net Software, Inc. (Nasdaq: TMNT) was down 3 11/32 to 6 29/32 in Tuesday morning trading after the company said first-quarter revenue would be lower than previously expected.
The Atlanta, Georgia-based firm, which makes software to monitor companies’ Internet and telephone use, said revenue will be $3.1 to $3.3 million. The company said its focus on larger sales prospects with “longer approval cycles” and an increase in recruiting and other personnel costs hurt results during the quarter and are likely to affect second quarter results as well.
“While we are unhappy to report lower-than-anticipated revenue for the first quarter of 2000, we remain confident that our pipeline of sales opportunities in the rapidly expanding Internet/integrated market will continue to grow,” said President and CEO Rich Mauro.
Results will be reported after the close of trading April 19th.