Prime Response, Inc. (Nasdaq: PRME) fell 1/2 to 3 1/2 Monday after the company said it expects a third quarter loss. Analysts at S.G. Cowen and Dain Rauscher Wessels reportedly downgraded the stock following the news.
Prime Response said revenue for the quarter will likely be between $6.75 million and $7.5 million, while the loss per share will total 38 to 44 cents. A year earlier, the company lost $1.35 per share on revenue of $4.2 million.
The company blamed the loss on mergers and acquisitions among its customers, some of which have delayed purchasing and implementation of software as they concentrate on integrating their operations.
The Cambridge, Massachusetts-based Prime Response makes software that helps companies manage customer relations.