TenFold Corp. (Nasdaq: TENF) plunged 7 1/2 to close at 9 9/16 Monday after the e-business software maker announced it expects a loss for the second quarter.
The Salt Lake City, Utah-based TenFold said it will post a loss of 3 to 5 cents per share for the quarter, compared with a profit of 3 cents in the same quarter last year. Revenue will total $30 to $32 million, up from $19 million.
“We had a few large deals that didn’t close during the quarter, although they still look promising in the near future,” said President and Chief Executive Officer Gary Kennedy. “This quarter, some of our customer prospects moved more slowly than we anticipated to authorize and fund new technology initiatives.”
TenFold plans to report results after the close of trading July 19th.