KnowledgeWare Inc’s sales screamed to a halt in the quarter just ended, and the company has had to warn that sales may be as low as $20m, half the figure for the second quarter, and that it will also report a loss, sending the shares, $43.25 back in the spring, into a tailspin that sliced $6.875 off their value for a low of $12.25; analysts had been looking for $30m to $36m in sales, and profit of 16 cents to 25 cents a share, where the company says the maximum will be $24m; it comments that it did not have any idea of the revenue slump until it added up sales figures on Tuesday last week and was shocked to find how many sales had failed to close by last Monday.
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