Perficient Updates Q2 Revenue Estimates; Lowers Full Year Guidance

(RTTNews) - Perficient Inc. (PRFT) reported updated preliminary revenue estimates for the quarter ended June 30, 2015. The company now expects second quarter revenue to be in the range of $108.2 million to $109.2 million. Services revenue, including reimbursed expenses, is expected to be in the range of $100.8 million to $101.8 million.

The preliminary revenue results for the three months ended June 30, 2015, are below the previously announced revenue guidance range of $110.5 million to $120.9 million and services revenue guidance, including reimbursed expenses, of $104.5 million to $109.9 million. The company said the reduction is primarily the result of unexepected customer delays in contract execution and project startups, including a delay in the ramp up of a large health care engagement.

Perficient also updated full year revenue and adjusted earnings per share guidance. The company now expects full year revenue in the range of $455 million to $475 million, compared to prior guidance of $470 million to $495 million. The company now expects its 2015 adjusted earnings per share in the range of $1.15 to $1.25 compared to a prior guidance range of $1.38 to $1.49.