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Sopheon expects H1 EBITDA loss

Tue, 16th Jun 2009 08:49

Product development software specialist Sopheon said it expects to see an EBITDA loss for the first half of the year after contract delays, higher costs for staff and the weakness of the pound. Sopheon said several licence orders, which it had expected to close in the second quarter, are now unlikely to conclude until the third or final quarter this year. "Several of these prospects have attributed the delays to more stringent approval processes imposed due to the current market uncertainty," the group said in Tuesday's company statement. "While we do anticipate closing further business in June, a possible effect of the ongoing delays is that revenues in the first half of 2009 may be lower than those recorded in the comparable period last year," it added.