Informatica shares slump on poor preliminary results
Data integration software company Informatica Corporation(NASDAQ:INFA) has announced weak preliminary financial results for the third quarter ended September 2012. It will report the final results on October 25.
The company says that it now expects revenue between $189 million and $191 million. Of this, it sees its license revenue between $65 million and $67 million and service revenue between $123 million and $125 million. It expects non-GAAP profits between 25 cents and 27 cents a share and GAAP earnings between 13 cents and 15 cents per share. Earlier, it had given a revenue guidance of $196 million and $206 million and forecast a non-GAAP EPS of 34 cents a share.
Will INFA Bounce Back After Today’s Slump? Find Out Here
“While overall customer demand for our products increased from the second quarter to the third quarter of 2012, most of our revenue shortfall in the third quarter was in Europe, where we fell well short of our own expectations,” said CEO Sohaib Abbasi in a statement. “Despite improving operational results in the U.S. and Asia Pacific relative to our second quarter 2012 results, the disappointing European results reflect continued operational challenges that we are taking aggressive steps to address.”
The stock has tanked 34.32 percent to $25.45, down $8.18.
StemCells conducts first transplant on AMD patient
StemCells, Inc.(NASDAQ:STEM) today announced that the first patient in its Phase I/II clinical trial in dry age-related macular degeneration (AMD) has been enrolled and transplanted. The trial is being conducted with the objective of evaluating the safety and effectiveness of the company's proprietary HuCNS-SC product candidate (purified human neural stem cells) as a treatment for the condition. These cells are injected into the space below the retina in the most affected eye. A total of 16 patients will be enrolled in the trial.
Around 30 million people worldwide are afflicted with AMD. This condition causes vision loss and even blindness in people aged over 55.
Shares of the company were up 5.30% to $2.22.