07:47 AM EDT, 10/24/2024 (MT Newswires) -- Converge Technology Solutions ( CTSDF ) , which saw its shares lose 3.7% yesterday, on Thursday said preliminary third-quarter revenue is expected to be between $630 million to $631 million, compared with the guided range of $636 million to $658 million

Last year, third-quarter revenue hit $710.1 million.

Adverse macroeconomic conditions impacted revenue in the quarter as some customers delayed spending. North American demand for data center, networking and storage solutions fell, in contrast to last year's third quarter that included a period of "abnormally" strong backlog fulfillment. Converge also logged lower hardware and associated maintenance & support revenue. Cloud and software revenue has continued to increase year over year.

Converge said it has completed the migration to its new enterprise resource planning system, which it says is expected to result in greater operating efficiencies.