Reuters: Global Markets: BroadSoft outlook disappoints, shares fall

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BroadSoft outlook disappoints, shares fall May 7th 2012, 13:24 Mon May 7, 2012 9:24am EDT (Reuters) - BroadSoft Inc's quarterly profit beat estimates, but the Internet communications company forecast weaker-than-expected second-quarter results, sending its shares down over 17 percent in premarket trading on Monday. The company expects a profit of 17 cents to 23 cents per share, excluding items, on revenue of $36 million to $38 million, for the second quarter. Analysts on average had been expecting an adjusted profit of 28 cents per share and revenue of $38.5 million, according to Thomson Reuters I/B/E/S. Net income for the first quarter fell to $1.7 million, or 6 cents per share, from $3.7 million, or 13 cents per share, a year ago. Excluding items, BroadSoft earned 29 cents per share. Total revenue rose 29 percent to $38.3 million. Revenue from licenses, which account for a little more than half of total revenue, rose to $21.3 million. Analysts had expected an adjusted profit of 23 cents per share, on revenue of $37 million, according to Thomson Reuters I/B/E/S. The company's shares, which closed at $40.89 on Friday on the Nasdaq, fell to $33.81 in trading before the bell. The stock has climbed 65 percent since a low of $24.85 on January 4. (Reporting by Sayantani Ghosh in Bangalore; Editing by Maju Samuel) Link this Share this Digg this Email Reprints

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