By Stuart Condie
SYDNEY--Altium Ltd. shares fell as much as 10% after the software firm's full-year guidance fell short of analysts' expectations.
The ASX-listed company on Monday said it expected an underlying earnings margin for the 12 months through June of between 34 and 36%.
Investment bank Jefferies said that implies earnings before interest, tax, depreciation and amortization of US$73.5 million, which compares to the average analyst forecast of US$76.5 million, according to data compiled by FactSet.
The stock was 9.1% lower at A$31.33, having traded as low as A$31.04. The broader S&P/ASX 200 was down by 0.6%.
Altium said it expected to hit the high end of its US$213 million-US$217 million guidance range, but also flagged higher costs amid a shortage of skilled labor.
Write to Stuart Condie at stuart.condie@wsj.com
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February 21, 2022 at 06:46AM
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