Arbor Software has turned in fourth quarter earnings below analysts' expectations.
For the year ended 31 March 1997, the online analytical processing (Olap) software supplier saw revenues increase 89 per cent to $47.4 million, while net income grew 102 per cent to $5.8 million.
Fourth quarter sales rose 80 per cent to $14.8 million, while net income grew 22 per cent to $1.7 million or $0.15 per share.
Analysts had forecast 16 cents per share, but Hambrecht & Quist also cut next year's earnings estimates by 10 cents to 72 cents because it believes Arbor is spending more to boost its salesforce in Europe and the US. Its revenue forecasts stayed at $80 million for fiscal 1998.
Latest Tesla news: Tesla stock price tanks amid reports of 'widening probe' by SEC and claims the base Model 3 loses money
SEC 'probe' takes its toll on Tesla as new research suggests that Tesla loses $6,000 on every $35,000 Model 3
10nm Cannon Lake Core i3-8121U CPUs make a rare outing with Intel's NUC mini PC
'Notorious' Australian child hacker thought he had executed 'flawless' hack
The former employee says that Tesla fired him for bringing the accusations to management internally