Datawatch Corp.'s Q1 EPS misses sole estimate
Shares of Datawatch Corp. (Nasdaq: DWCH) are plunging this morning after the enterprise information management company reported first fiscal-quarter earnings below the estimate of a sole analyst on Wall Street.
For the three months ended Dec. 31, 2007, the Chelmsford, Mass.-based company recorded net income of $247,000, or $0.04 per diluted share, below the $0.10 per share Taglich Brothers analyst Howard Halpern was forecasting. The current quarter’s bottom-line compares with net income of $34,000, or $0.01 per diluted share, for the first quarter of fiscal 2006.
Revenues were $6.08 million, slightly below the $6.64 million Halpern was projecting. Revenues for the current quarter climbed 5% when compared to $5.78 million, for the same quarter in 2006.
Datawatch attributed its top-line results to the release of its Monarch Version 9, German edition, recognition of maintenance revenue from its acquisition of Radiant Document Solutions Group from Clearstory Systems, Inc. in May 2006 as well as a strong services quarter.
The company said it also closed two significant Monarch Report Mining Server (RMS) opportunities in the banking industry and signed partnerships with several new Hyland Software OnBase and IBM Content Manager OnDemand partners for Monarch RMS.
Shares of Datawatch (DWCH) tumbled 34.72%, or $2.50, to $4.70 at 9:58 a.m. ET. Shares of Datawatch have been trading in the range of $ 2.63 and $8 for the past 52 weeks.
