Shares in Guidance Software Inc. edged down Friday after the company reported an decreased first-quarter loss late Thursday.
Guidance reported a first quarter loss of $500,000 (-2 cents per share), compared to a loss of $1 million (-4 cents) in the same period a year earlier, falling inline with Wall Street’s predictions of a loss of 2 cents per share, according to Thomson Financial.
Sales for the Pasadena software designer rose 23 percent to $21.7 million, beating analysts’ expectations of $20 million. Guidance said the first quarter is its slowest of the year.
Guidance reaffirmed its 2008 earnings outlook of a profit of between 11 cents and 24 cents per share on sales of between $94 million and $99 million. Analysts were expecting full-year earnings of 21 cents a share on revenue of $97 million.
Shares in Guidance closed down 1 percent to $10.42 in trading Friday on its highest volume of traded shared in approximately one year.