Finnish software provider for telecommunication network and service operators Comptel (OMXH: CTL1V) reduced its full-year guidance due to weaker than expected net sales and cost development during the second quarter of the year. In April the company estimated over 10% net sales growth in 2012 compared to 2011. Now net sales are estimated to grow approximately 10%. Operating result guidance excluding one-off items was cut from 5-10% of net sales to 0-5%. Following impairments, the result is still expected to remain negative.
Second quarter result will be hampered by costs related to project deliveries and marketing and due to a provision related to bad debt. Revenue from license sales will remain low. The company will start a new cost savings programme targeting 10 million Euros of savings per year. This compares to annual sales of 77 million last year. The penny stock retreated close to 5% on Friday following the announcement.
No comments:
Post a Comment