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UPDATE 1-Epicor Software raises Q3 view, shares up
October 6, 2010 / 2:29 PM / 7 years ago

UPDATE 1-Epicor Software raises Q3 view, shares up

* Sees Q3 adj EPS exceeding $0.15

* Sees Q3 rev $109-$111 mln

* Shares rise as much as 9 pct

Oct 6 (Reuters) - Epicor Software Corp EPIC.O said it expects its third-quarter results to exceed its previous forecast helped by strong software license revenue, mostly from sales of its Epicor 9 product, sending shares up more than 9 percent.

The company, which makes enterprise software for mid-cap companies, expects third-quarter software license revenue to increase about 40-45 percent, compared with the year-ago period.

“Epicor is selling into more markets than ever before. We are continuing to expand the reach of Epicor 9 and our pipelines are continuing to build as a result,” CEO George Klaus said in a statement.

Epicor 9 is a software suite for customer, supplier and business process management.

The company expects third-quarter adjusted earnings to exceed the top end of its prior outlook of 13-15 cents a share.

Total revenue for the third quarter is expected to come in between $109-$111 million, compared with its previous forecast of $106-$108 million. [ID:nWNAB2338]

Analysts on an average are expecting earnings of 14 cents a share, excluding items, and revenue of $106.6 million, according to Thomson Reuters I/B/E/S.

Shares of the Irvine, California-based company were trading up 4.5 percent at $9.52 Wednesday morning on Nasdaq.

They have risen 15 percent since the company reported second-quarter results in July. (Reporting by Shravya Jain in Bangalore; Editing by Roshni Menon)

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