(Alliance News) - Enterprise software provider Sopheon PLC on Thursday reported on its "strongest" fourth quarter but saw full-year revenue and profit slip.
Revenue in 2019 was 11% lower at USD30.3 million from USD33.9 million, with pretax profit falling 61% to USD2.5 million from USD6.4 million.
Chair Barry Mence said: "It was good to see the inherent discipline in our business delivering another profitable and cash generative year. Consistent with our expectation after a slow first half, momentum rebounded sharply in the final quarter, which was one of the strongest on record for deal flow."
Of the 47 license transactions it achieved in 2019, down from 57 in 2018, 23 of those were secured in the fourth quarter.
Sopheon held its dividend at 3.25 pence per share.
The company said: "Overall, coronavirus unknowns aside, we remain confident of growing commercial traction in the coming year; our very strong balance sheet also gives us the comfort to press on."
Sopheon shares were down 7.7% at 480.00p each in London on Thursday morning.
By Eric Cunha; ericcunha@alliancenews.com
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