STARLIMS Issues Earnings Warning
The company stated that a longer sales cycle, the rescheduling of implementation test phases and smaller initial purchases, all tied to the economic crisis, as reasons for the revised outlook. STARLIMS stated that in response to these developments, it is examining the efficiency of its operations and re-evaluating expenses.
Hollywood, FL 10/6/08—STARLIMS Technologies, a provider of laboratory information management systems (LIMS), has announced that it expects third-quarter revenues of $5 million and GAAP EPS of $(0.03)–$0.01. This compares to third-quarter 2007 sales of $6.2 million and GAAP EPS of $0.18. “Our business in the third quarter was impacted by increased tightening of IT budgets resulting in smaller initial deal sizes and elongated sales and implementation cycles,” stated STARLIMS CEO Itschak Friedman.
