Blackboard expects 2Q sales in line with estimates

Educational software company Blackboard Inc. said Wednesday it expects third-quarter results in the range of a loss of 2 cents per share to a profit of 2 cents per share.

The company forecast adjusted earnings between 18 cents and 20 cents per share on sales of $82 million to $84 million.

Analysts, on average, are expecting a profit of 19 cents per share on sales of $82.6 million, according to a poll by Thomson Financial. Analysts typically exclude one-time items from their estimates.

For the full year, Blackboard forecast results in the range of a loss of 1 cent per share to a profit of 7 cents per share and adjusted earnings between 73 cents and 78 cents per share.

The company expects revenue between $312 million and $316 million.

Analysts are predicting a profit of 65 cents per share on sales of $314 million.

Shares fell $2.35, or 6 percent, to $37.50 in after-hours electronic trading. The stock had closed down 30 cents at $39.85.

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