Phoenix Technologies Swoons On Weak FY Q4

Phoenix Technologies (PTEC) shares have been hit hard today by a weaker-than-expected financial report for its fiscal fourth quarter ended September.

The company, which makes PC systems software, reported revenue of $17.2 million, down from $20 million a year ago, and well below the Street at $18.9 million. PTEC lost 7 cents a share on a non-GAAP basis, a penny worse than the Street had expected; on a GAAP basis the company lost 15 cents a share.

In a statement, CEO Woody Hobbs said that “the combined effects of the macro-economic slowdown over the past year and a reduction in product pricing across the PC eco-system impacted our core business revenues and delayed the introduction and roll out of our new products.”

PTEC today is down 91 cents, or 27.6%, to $2.39.