Interactive Intelligence falls 9% in pre-market on Q2 profit decline
Software applications provider Interactive Intelligence Inc. (Nasdaq:ININ) has shed 9% in pre-market trading today after posting a decline in its second-quarter earnings after Monday’s close. Revenues for the quarter ended June 30 were $30.6 million, up from $27.1 million for the same period a year earlier. Net income for the Indianapolis-based company was $0.85 million, or $0.04 per share, compared with $2.4 million, or $0.12 per share, for the year-ago quarter.
“We did see a lower dollar amount of orders from existing customers, which we attribute to the current economic slowdown. While we see no change in our long-term market opportunity or in the competitive advantages our solutions offer, we are responding to this tougher sales environment by adjusting our previously planned operating expenses until general market conditions improve,” said Donald Brown, founder and CEO, in a statement.
Ahead of today’s opening, shares are at $7.99, down $0.76 from Monday’s close. The stock has ranged from $6.60 to $30.16 during the past 52 weeks.
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