) to market perform from outperform.
Analyst Tad Piper says the company's lowered revenue guidance is $8 million below his forecast. Given the continued near-term uncertainty, particularly as it relates to consumer confidence, he thinks retailers may remain reluctant to begin larger information technology initiatives. He notes the outlook for JDA remains very difficult to predict on this news, and says a lack of guidance for the next several quarters doesn't help either.
Accordingly, Piper cut the $205.5 million 2003 revenue estimate to $183.6 million, and sees 57 cents earnings per share to 28 cents. He also sees $217.4 million 2004 revenues to $200.7 million, and cut the 66 cents 2004 earnings per share to 53 cents.