State of the Art Expects Lower Earnings for 2 Quarters
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IRVINE — Computer software maker State of the Art Inc. said Wednesday that its earnings for the third and fourth quarters will be lower than projected earlier.
The Irvine-based company said its revenue is being hurt by a combination of slow sales during the current quarter and production delays on a new software package. State of the Art’s new Windows-based accounting software, expected to be released this fall, will not debut until later in the year, the company said.
In Wednesday’s Nasdaq trading, State of the Art’s stock closed at $6.50 a share, up 44 cents.
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