Lawson Software Inc., a maker of accounting and human-resources management software, said Thursday its second-quarter net income fell 9 percent amid a challenging economy and falling revenue.
It also issued a forecast for third-quarter profits that fell below expectations and shares fell 44 cents, or 6.3 percent, to $6.55 in after-hours trading, after closing up a penny at $6.99.
Net income in the quarter to Nov. 30 fell to $2.8 million, or 2 cents per share, from $3 million, also 2 cents per share, in the same period a year earlier.
Revenue dropped 11 percent to $184.4 million from $206.4 million.
Adjusted earnings fell to 9 cents per share from 10 cents per share a year earlier, matching the forecast of analysts surveyed by Thomson Reuters.
The company's second-quarter revenue exceeded the company's guidance of between $175 million and $180 million.
Lawson said separately that it has agreed to acquire the holding company parent of Healthvision Solutions Inc. for $160 million in cash.
The company said it expects total third-quarter revenue of $174 million to $178 million, and adjusted earnings of 7 cents to 9 cents per share.
That was below the prediction of analysts who, on average, forecast 10 cents per share of earnings on $175 million in revenue.