Networking marketing solutions provider Endace has said that revenue for the year ended March 31st is expected to miss market expectations by around 10 per cent due to slow decision-making by a number of clients.
Despite reporting an "excellent" performance in the first half, the company said that budget restraints, particularly in the UK government customer base, have resulted in a shortfall of expected purchases.
Endace forecasts a pre-tax profit of $1m after adjusted for share options and a year-end cash balance of $4m.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
"Looking forward, whilst the board notes the continuing uncertain economic outlook, it remains confident in the prospects for the business given the technological leadership in its chosen markets, the strength of the pipeline, the continued growth in annuity income, and its expanding Enterprise customer base," the statement said.
BC
-
How to invest in nuclear powerWe need nuclear power to go green, says Dominic Frisby. But there is a better option than huge power stations
-
Chase slashes its easy-access savings rate – is it time to switch?The Chase easy-access savings account has proved popular with savers thanks to its competitive rate and bonus deals. But, as the rate has dropped, has it lost its charm?
