Continuus Stock Slumps

Continuus Software Corp.’s stock slumped to a new low after the Irvine company announced its second-quarter operating losses would be more than triple what analysts expected. The stock, which has lost almost 80% of its value this year, dropped 81 cents a share to close at $2.44 in Nasdaq trading. Continuus, which makes software that tracks changes to computer networks and Web sites, is projecting an operating loss of $3.8 million to $4 million, or 36 to 38 cents a share, for the three months ended June 30. Analysts had estimated the loss at 10 cents a share. The company’s troubles demonstrate how the market has become more tight-fisted with money-losing Internet companies, forcing them to pinch pennies, analysts said. “Many of their clients are ‘dot-coms’ and they are buying less,” said Nicholas Pollard, an analyst with H.C. Wainright & Co. The company said it will record revenue of about $9 million for the quarter, compared with $8.8 million a year ago.