Perot Systems warns of shortfall

That huge sucking sound investors heard after the bell Thursday was Ross Perot, chairman of Perot Systems, warning that his company will miss sales and earnings estimates in its second quarter.

Perot Systems (per), which provides a variety of technology consulting and e-business services, said its second quarter earnings will fall below the 15 cents a share it earned in the year-ago quarter.

First Call Corp. consensus expected Perot Systems to earn 17 cents a share in the quarter.

Company official blamed a pair of client-related problems for the shortfall. Full story. -- By Larry Barrett, ZDNet Inter@ctive Investor