Lionbridge shares took a major hit today, down more than 30%, on news that the company was coming up roughly $6 million short of its revenues target.

Lionbridge blames its Veritest testing unit for the shortfall and says it is making progress in diversifying itself beyond the tech sector. I've never been a huge fan of its Veritest division. Over the past few years, the company pointed to Veritest as an example of diversification. But that's not diversification in the larger sense of the word; Lionbridge needs to be well diversified outside of the tech sector, not just within the tech sector.

The company has been aggressively going after medical device, chemical, and automotive accounts. But I believe that Lionbridge is still largely perceived to be a software localization company. The company doesn't speak the language of the medical device community; see ForeignExchange Translations for a company that gets it right.

Now Lionbridge has good management and very bright prospects, particularly given its production facilities. But it needs marketing help, sooner rather than later.