MSC Software Expects to Post Loss, Cut Jobs
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MSC Software Corp., a Santa Ana developer of simulation software used in product testing, said it would report a loss for the third quarter and lower-than-expected revenue because of weakness in the economy. The firm also is cutting 8% to 10% of its work force.
MSC expects a loss, excluding costs, of 5 to 7 cents a share, less than the 12-cent profit estimate of analysts surveyed by Thomson First Call.
MSC has cut about 100 jobs from its work force of 1,500 in the last two quarters and will make additional reductions, spokesman Todd Evans said.
MSC shares rose 15 cents to $7.60 after the close of regular trading. Earlier, the stock rose 35 cents to $7.45 on the NYSE.
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