Add another victim to the soft economy.
has announced that due to “softness in consumer demand for personal computer and software products,” they expect revenues for the first quarter to be approximately US$31 million and pro forma net income to be approximately $0.02 per share.
This compares to previously issued guidance of $35 million in revenues and pro forma net income of $0.15 per share. On a reported basis, the loss per fully diluted share is estimated to be approximately $0.15.
The company’s disappointing revenues are affected by worse than expected softness in revenues from OEMs worldwide and weakness in retail software sales, particularly in Europe, according to Chris Gorog, Roxio’s president and CEO. What’s more, industry indicators now suggest that the consumer and computer software sectors will be “less robust in the near-term than previously anticipated,” he added.