Chordiant Software (CHRD) Sees Q4 Revs of $21.7M, Sees Loss in First Half of 2007; Seeks Reverse Stock Split
Chordiant Software, Inc. (NASDAQ: CHRD) said sees revenue of approximately $21.7 million expected in fiscal Q4, which compares to the consensus of $26.74 million. Non-GAAP net loss of approximately $7.1 million expected in fiscal Q4 2006 excluding stock-based compensation estimated at $1.0 million and intangible amortization of $0.3 million.
Chordiant Software expects total revenue for fiscal year 2007 to range between $115.0 million and $120.0 million, which compares to the consensus of $115.8 million. The Company expects non-GAAP operating income to aggregate between 6% and 10% for the fiscal year ending September 30, 2007. The Company anticipates incurring non-GAAP operating losses in the first half of fiscal 2007.
Chordiant Software also announced that the Board of Directors had approved a reverse stock split of our common stock such that each outstanding two and one half (2.5) shares of common stock would be combined into and become one (1) share and that it will seek stockholder approval of the reverse stock split at a special meeting of stockholders in the first quarter of 2007.
Chordiant Software expects total revenue for fiscal year 2007 to range between $115.0 million and $120.0 million, which compares to the consensus of $115.8 million. The Company expects non-GAAP operating income to aggregate between 6% and 10% for the fiscal year ending September 30, 2007. The Company anticipates incurring non-GAAP operating losses in the first half of fiscal 2007.
Chordiant Software also announced that the Board of Directors had approved a reverse stock split of our common stock such that each outstanding two and one half (2.5) shares of common stock would be combined into and become one (1) share and that it will seek stockholder approval of the reverse stock split at a special meeting of stockholders in the first quarter of 2007.
