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What: Shares of BroadSoft (NAS: BSFT) have plunged today by 23% at the low after the software and services company reported earnings with weak guidance.
So what: Revenue in the first quarter rose 29% to $38.3 million, with non-GAAP earnings per share of $0.29. Those figures bested consensus estimates for both the top and bottom lines, but the soft guidance overshadowed the earnings beat.
Now what: Second-quarter revenue is expected to be in the range of $36 million-$38 million, leading to non-GAAP earnings per share of $0.17-$0.23. The Street was looking for second-quarter earnings of $0.28. The full-year picture looks a little better, with fiscal 2012 sales expected to be between $158 million and $162 million with adjusted earnings of $1.22-$1.32 per share. CFO Jim Tholen warned that the environment is "a little more challenging now than it was a year ago, in terms of carrier buying patterns."
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