QuadraMed Withdraws 2002 Earnings Forecasts

QuadraMed Corp. withdrew earnings and revenue forecasts for 2002 until it restates results for 2000, 2001 and the quarter ended March 31.

The health-care software maker’s earlier forecast for 2002 called for revenue of $136 million to $141 million and a net loss of 24 to 10 cents a share, the San Rafael, Calif.-based company said in a regulatory filing. It said the restatement would change the way the company recognizes revenue.

The restatement involves the way the company booked some software license sales and classified some expenses, investments and discontinued operations.

QuadraMed shares fell 58 cents to $1.62 on Nasdaq.