Interactive Intelligence plunges 30% on lower-than-expected Q2 preliminary results

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Interactive Intelligence (Nasdaq:ININ) is plunging more than 30% in today’s trading after the company announced ahead of the bell its second-quarter profits would fall below Wall Street estimates. The Indianapolis-based provider of voice over Internet protocol applications said it expects its earnings to be between $0.5 million and $1 million, or $0.03 and $0.05 per share for the quarter ended June 30. Analysts were expecting about $0.17 per share for the second quarter. The company said the weaker-than-expected earnings were the result of lower orders from existing customers. Interactive Intelligence is expected to report its second-quarter earnings on July 28 after the close.  

Shares of Interactive Intelligence have shed 30% to $7.28 on above-average volume in today’s trading. 

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