Job Cuts at BrightStar

BrightStar Information Technology Group Inc., a provider of business management software, said it cut about 90 jobs, or 14% of its work force. BrightStar also said revenue and earnings for its second quarter and calendar year will be lower than expected. Chief Financial Officer Donald Rowley said he was using Dain Rauscher Wessels analyst Theresa Matacia’s estimates as comparison. Matacia had estimated that BrightStar would have a second-quarter loss of 2 cents a share and revenue of $21.2 million, according to IBES International Inc. The Pleasanton, Calif.-based company blamed the shortfall on slower-than-expected adoption of some business software and services. BrightStar said because of the cost-cutting, it still expects to achieve profitability in the second half of the year. BrightStar shares closed off 53 cents at $3.16 on Nasdaq. The news was released after the close of regular U.S. trading.