Support.com announces preliminary Q4 results, guides Q1 revenue/EPS well below consensus

|By:, SA News Editor

After tumbling throughout the day, Support.com (SPRT -8%) shares are halted, with the company announcing preliminary Q4 results and Q1 guidance.

Revenue is seen at $24.5M-$25M in Q4, vs. previous guidance of $24M-$26M (and consensus of $25M) with EPS at $0.08-$0.09, vs. previous guidance of $0.06-$0.08 (and consensus of $0.07).

However, Q1 guidance is well below expectations, with a sequential decline in revenue and income expected due to "the resolution of questions" relating to program changes at Comcast. Revenue is seen at $16M-$18M (vs. consensus of $21.9M) with EPS at -$0.04 to $0.00 (vs. consensus of $0.02).

Shares will resume trading at 4:30pm ET

PR, Conference call at 5pm ET