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CSG cuts Q1 outlook

Sun, 04/13/2003 - 8:00pm
Jeff Baumgartner

Billing and customer care vendor CSG Systems International said it expects first quarter revenue to be in the range of $140 to $142 million, down from previous guidance of $144 million to $152 million. CSG also said net income in the period will be between 16 cents and 18 cents per share, compared to between 24 cents and 27 cents per diluted share, which did not include expectations of a restructuring charge of 4 cents per diluted share.

CSG attributed the revisions to lower expected software maintenance revenues of about $4.5 million, and lower revenues from professional services of roughly $3 million.

CSG shares were down 41 cents (4.4 percent) to $8.72 apiece in early trading Monday. CSG said it will provide first quarter financial results on April 29.

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