Dman Bottom in? http://finance.yahoo.com/q/h?s=DMAN Demandtec Plunges on 2009 Outlook Friday April 4, 2:55 pm ET Demandtec Plunges to All-Time Low on 2009 Outlook That Falls Well Below Wall St. Expectations
NEW YORK (AP) -- Shares of consumer demand software specialist Demandtec Inc. plunged to an all-time low Friday after the company said it expected fiscal 2009 first-quarter and full-year profit well below Wall Street expectations.
ADVERTISEMENT The company said it anticipated a 2009 profit of 10 cents to 13 cents per share, while analysts polled by Thomson Financial expect a profit of 27 cents per share.
JMP Securities analyst Patrick Walravens said in a note to investors that the consumer software sector's lengthening sales cycles are taking their toll on the company, as are competitive pressures.
He lowered his 2009 estimate to a range between 10 cents per share and 13 cents per share from his previous estimate of 29 cents per share.
He also lowered his 2010 profit estimate to 36 cents per share from 59 cents per share.
Demandtec shares fell $2.70, or 24.7 percent, to $8.19. They earlier hit an all-time low of $6.65 after trading in the last year between $8.75 and $20.55.
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