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Remedy Warns of Loss

April 07, 2001|Reuters

Software maker Remedy Corp. warned it will report a first-quarter loss, instead of the profit Wall Street was expecting, due to the slowing economy and customers' postponement of information technology spending. The company said it will post a loss of 5 cents to 7 cents a share, excluding goodwill and charges, for the quarter. With goodwill and charges, it said the loss would be 20 cents to 22 cents. Analysts had on average expected the company to report earnings of 16 cents a share, according to market research firm First Call/Thomson Financial. Shares of Mountain View, Calif.-based Remedy, which makes help-desk software, plunged $4.88 to close at $15.13 on Nasdaq.

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