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Quest Software Cuts 2011 Rev Outlook

  • Reuters, Tuesday, July 12, 2011 10:07 AM
Quest Software's preliminary second-quarter results missed estimates, and the company cut fiscal 2011 revenue growth forecast, hurt by lower-than-anticipated return on higher investments in business and acquisitions. The enterprise systems management software maker now predicts Q2 revs at $201-$204 million and pro forma earnings at 22-24 cents a share.

The company, which competes with CA Inc and Symantec Corp , has lowered its revenue growth for this year. It initially predicted 16%; now it expects revenue growth to be 11% to 12%. Analysts were expecting annual revenue of $862.9 million.

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