$ENGH Shares of Enghouse Systems fell sharply Friday morning after the company reported lower-than-expected revenue in the fourth fiscal quarter, dragged down by a miss in software licenses.
Shares traded 10% lower at 28.24 Canadian dollars ($19.86).
The Canadian software company generated revenue of C$125.7 million in the three months ended Oct. 31, up from C$123.1 million a year earlier.
According to FactSet, analysts were expecting a rise to C$133.2 million.
Net income slipped to C$22.6 million, or C$0.41 a share, from C$25.1 million, or C$0.45 a share a year earlier.
Revenue at its software licenses business fell to C$15.9 million, down from C$17.5 million.
Recurring revenue, which includes software-as-a-service and maintenance services, its largest, rose to C$88.2 million from C$87.2 million.
