Intercept, a provider of services for financial institutions and merchants, may go private.
Intercept (Nasdaq: ICPT) lowered its guidance for the third quarter, citing a variety of deployment problems and cost overruns as well as customer attrition. Earnings will be announced on Nov. 12. The company cut its earnings to 34 cents to 42 cents, down more than 20 cents.
John Collins, chairman and chief executive officer of Intercept, also disclosed plans to take the company private. He said he is having preliminary discussions with financial backers and plans to make an offer for the firm.
Intercept: www.intercept.net
