Chordiant Software (CHRD) Guides Q4, FY08, FY09; to Cut 13% of Workforce

October 8, 2008 4:14 PM EDT

Chordiant Software, Inc. (Nasdaq: CHRD) reports preliminary Q4 sales of $27-$28 million, versus the consensus of $30.47 million, and non-GAAP EPS in the range of $0.05-$0.07, versus the consensus of $0.08.

FY08 sales are expected to be $111.5-$112.5 million, versus the consensus of $115.04 million. Non-GAAP EPS for the year are expected to be in the range of $0.18-$0.19, versus the consensus of $0.21.

Chordiant also announced today an approximate net 13% reduction in force, which impacts approximately 33 people and is expected to reduce operating costs by more than $4.8 million annually.

Chordiant sees FY09 sales of $100-$110 million, versus the Street estimate of $120.74 million.

Chordiant Software, Inc. provides solutions and services that help enterprises to deliver effective customer experience.

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