HearMe (Nasdaq: HEAR) fell 2 13/16 to 4 13/32 Wednesday after the company warned of a shortfall in revenue for the third quarter.
Revenue at the Mountain View, California-based maker of voice technology will be between $6 million and $6.5 million, up from $4.1 million in the year-earlier quarter but below the $9 million analysts were expecting. The company blamed the shortfall on “deal completion timing” in its technology products division.
The company said the effect on earnings will be “mitigated by continued focus on controlling expenses.”
Results will be reported October 17th.