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RightNow Technologies (RNOW) Thursday afternoon said fourth quarter revenue would be about $28 million, below its previous guidance of $31 million to $31.5 million. It also expects earnings to be below its previous forecast of between break-even and a loss of two cents a share. The company expects bookings for the quarter of about $41 million and cash from operations of $4 million to $5 million.

The company said results were affected by the accelerating shift of its business from perpetual to recurring revenue agreements, “including one transaction that was originally anticipated as a perpetual license but closed as a recurring revenue transaction.” (The difference is how the company accounts for them; perpetual licenses are recognized upfront, recurring revenue licenses gradually over time.)

The company will report full results on January 31.

In after-hours trading, Right Now is down $2.11, or 12%, to $15.30.

Source: RightNow Misses Earnings Badly; Stock Down 12%