Chordiant FY Q4 Revenue Comes Up Short; Guidance Light
Chordiant Software (CHRD) said Wednesday that revenue for its fiscal fourth quarter ended Sept. 30 would be between $27 million and $28 million, shy of the Street consensus of $30.5 million. The company expects to report non-GAAP profits of 5-7 cents a share, below the Street target of eight cents.
CEO Steven Springsteel said in a statement that the quarter “was more challenging than we had originally anticipated,” noting that “the macroeconomic climate, even in the emerging geographies, which until recently had remained strong, deteriorated significantly during the last few weeks of the quarter.” He said a number of transactions “slipped out of the quarter, which negatively impacted our results for the quarter.”
