) cut its Q2 guidance to earnings per share of $0.06-$0.08 on revenue of $338M-$345M. Goldman Sachs cut its estimates on BMC.
Analyst Anne Meisner says the forecast compares with BMC's original guidance of $355M-365M in revenue and $0.11-$0.14 EPS, her respective estimates of $356M and $0.11, and the analysts' consensus forecast of $0.13 EPS. She notes that management attributes the shortfall to an unexpectedly low rate of deal closings worldwide, especially in Europe, along with the ongoing economic slowdown in the Americas.
The analyst cut her Q1 estimates for revenue to $340M and for EPS to $0.07; her fiscal 2002 (Mar.) forecasts for revenue from $1.71B to $1.60B and for EPS from $0.90 to $0.76; and her fiscal 2003 projections for revenue from $1.90B to $1.78B and for EPS from $1.05 to $0.90. Meisner maintains her market outperform rating on the shares.