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News Breaks
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November 3, 2009
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| 07:19 EDT |  | NSTC |
| theflyonthewall.com: | Ness Tech cuts FY09 revenue guidance to $540M-$550M vs. consensus of $588.77M | | This revenue level implies diluted EPS at the lower end of rior guidance for the "business as usual" scenario for the fourth quarter. As the company prepares for a resumption of growth in 2010, it now intends to restructure some small business units which are not contributing due to their small scale, and also to restructure certain projects in order to expand profitability in the future. The company expects to take a restructuring charge of $7 to $9 million. This charge is excluded from the company's non-GAAP guidance. :theflyonthewall.com |
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