Business software developer Epicor saw its second-quarter earnings slip from last year, though revenue was up.
The company saw net income of $6.3 million, or $0.11 per share, for the quarter ended June 30, compared to $7.1 million, or $0.12 per share, in the second quarter of last year. However, revenues rose to $105.7 million, compared to $99.5 million in the year-ago quarter. Analysts had expected $0.21 per share on revenue of $108.3 million.
Epicor blamed some of the problems on lower-than-expected hardware revenue, which fell short by about $2.5 million. "The hardware business that accompanies our retail solutions can be unpredictable," said Epicor chairman and CEO George Klaus in a statement.
Epicor expects total revenue for 2007 to be in the range of $433 million to $437 million, and GAAP net income in the range of $30 million to $31 million, a 26 to 30 percent increase over its 2006 net income of $23.8 million.
