BMC (Nasdaq:BMC) Punished on Earning Miss

An increase in revenue in the fiscal third quarter of BMC (Nasdaq:BMC) wasn't enough to satisfy investors. Neither did the guidance of the company, which at the top end of the range of $2.92 to $3.02, beats analysts' estimates of $3.00.

Of course the wide range is somewhat problematic, suggesting, or at least projecting, some uncertainty.

Focusing on the improvement in bookings, BMC CEO Bob Beauchamp said, "Our growth strategy is working very well as we yet again increased our annual bookings outlook, nearly doubling our original bookings growth expectations for the fiscal year."

Bookings growth is now projected to grow in the high single digits in 2011 for BMC. The previous bookings growth estimate was from the mid to high single digits.

BMC closed Wednesday at $48.20, down $0.17, or 0.35 percent. In after hours trading they fell to $47.00, losing $1.20, or 2.49 percent.