Epicor Warns Earnings Will Be Off
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Epicor Software Corp., an Irvine supplier of management software, warned late Friday that its fourth-quarter loss will be larger than analysts expected, as it takes a charge and cuts its worldwide work force 11%.
The company, whose shares have fallen 60% in the past year, expects a loss for the quarter of 24 cents to 29 cents a share before charges. Epicor had been expected to lose 11 cents a share, the average estimate of three analysts polled by IBES International Inc.
Epicor said it will close some facilities, and the job cuts will include contractors. The company did not say how many people the 11% cut represents. Epicor said it will take a charge of $18 million during the fourth quarter.
Epicor shares were unchanged Friday at $5.06. The announcement was made after the close of trading.
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