Unica reports in-line 4Q profit; will restate first three quarters of FY07 |
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Mon, 31 Dec 2007 14:15
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BOSTON (Thomson Financial) - Unica Corp. Monday reported fiscal 2007 fourth-quarter adjusted income from operations of $2.4 million, or 11 cents a share, in line with the mean estimate of analysts polled by Thomson Financial.Revenue for the three months ended Sept. 30 rose 21% to $29.3 million, edging Wall Street's $29 million consensus estimate. In the year-earlier period, the Waltham, Mass.-based marketing management software provider posted revenue of $24.3 million.Unica said it will restate its financial results for each of the first three quarters of fiscal 2007 because of errors in recording state income taxes. Unica also said there were errors in recording state tax liabilities and receivables, the timing of recording revenue on certain revenue arrangements and the timing of recording a purchase accounting entry.Unica also found errors originating in periods prior to fiscal 2007, but said the errors are not material to the financial results for previously issued annual financial statements.The stock closed at $9.30 on Friday.Greg Saulniergs/gs/pcCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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Unica outlines preliminary 4Q results; expects to finalize sales tax review 