LONDON (Alliance News) - Sopheon PLC Wednesday said its 2014 earnings will be "substantially lower" than in 2013, after a number of transactions were delayed into 2015 leading to a drop in revenue.
The software and services company expects to post 2014 revenue of USD18 million, compared with nearly USD21 million a year earlier. In 2013 Sopheon posted earnings before interest, tax, depreciation and amortisation of around USD3 million.
"Although we did close ten license transactions in December, we are disappointed with the way key deals deferred into 2015," said Chairman Barry Mence in a statement. "We remain confident of the strategic path we are following and look for better commercial progress in the coming year, to match and leverage the major strides made in the last year with product and corporate matters."
Sopheon entered 2015 with a recurring revenue base of around USD8 million, it said.
The company expects to announce its full year results March 19.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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