Aliso Viejo-based Quest Software Inc. has posted its second-quarter results on Tuesday which missed the analysts’ expectations. Shares of the company fell after it announced its earnings for the first half of the year. Quest Software is a leading enterprise systems management vendor, delivers innovative products that help organizations get more performance and productivity from their applications, databases, Windows infrastructure and virtual environments.

The company’s stock was down about 10 percent before recovering at close of trading on a recent market value of about $1.5 billion.

In the quarter, Quest total revenues increased 22 percent to $173 million, as compared to last year’s second quarter revenue of $142.3 million. The company saw profits of $8 million including the charges for stock compensation, research and development, write-downs on assets and costs associated with Quest’s stock options backdating probe.

Total profit for the first six months accounted for $18 million, excluding the charges. But, analysts expected then company to earn $22 million. Quest ended quarter with about $420 million in cash.

“We are pleased with our financial performance through what has been a tough macroeconomic environment in the first half of 2008,” said Vinny Smith, Quest CEO. “We are continuing to drive our business to support our customers’ requirements across the breadth of their IT infrastructure with innovative products and services.” Smith added.

Quest expects to sale $705 million to $720 million in 2008. 

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