Double-Take Software Shares Jump on Unsolicited Bids

Double-Take Software Shares Jump on Unsolicited Bids

Southborough : MA : USA | Apr 12, 2010 at 9:59 AM PDT
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Double-Take Software, Inc, (DBTK) a business software maker specializing in server backup, received a number of unsolicited buyout offers, jettisoning its shares by up to 14 percent. Currently, the company’s board of directors has been working feverishly on the conditions of the multiple offers, according to a Double-Take press release.

Double-Take recently lowered its first-quarter expectation forecast, citing lower-than-expected license sales. First quarter revenue has been expected to cross $18.8 million to $18.9 million – down from the earlier $20 - $20.2 million forecast.

The effect to shareholders adjusts earning downward to 1 cent to 2 cents a share from the earlier 2 cents to 4 cents per share. Analysts had forecast on average expectation of 4 cents a share, on revenue of $20.7 million, according to Thomson Reuters I/B/E/S.

Double-Take develops software for servers that automatically create back-up copies of information that it can send to a different dedicated locations for storage.

Shares of Double-Take were trading up $1.03 at $9.74 in morning trade on Nasdaq.

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Double-Take Software
Company shares jump on unsolicited bids
Nathaniel Hines is based in Florianópolis, Santa Catarina, Brazil, and is an Anchor on Allvoices.
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