LONDON (Alliance News) - Digital Barriers PLC Thursday warned it will post a wider-than-expected loss for the year to end-March 2015, although it still expects to post a narrowed loss compared to the GBP12.0 million pretax loss it posted in the previous year, as two contract awards were delayed.
The surveillance technology firm said that the two contracts are now expected to close and be delivered early in the first half of the current year. It reiterated its aim to reach break-even in the current year.
"It is frustrating that the timing of sales closures has impacted our performance this year, but we firmly believe that we remain on the right long-term course. In recent weeks we have seen encouraging progress with our first sales secured into leading transportation, energy and industrial services companies," said Chief Executive Officer Zak Doffman in a statement.
Digital Barriers separately announced that it has won a contract for its TVI surveillance technology with an initial value of GBP1.0 million, with an option for a further GBP3.5 million, and a follow-on contract for its integrated surveillance platform worth GBP500,000.
Shares in Digital Barriers are trading down 16% at 42.01 pence Thursday morning.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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