Investors have been waiting a turnaround in many struggling small technos for some three years already. For the most part it is still a waiting game. Ixonos Plc (OMXH: XNS1V) today announced that its turnover is expected to fall in between 55 and 60 million Euros. Previously the company was saying that it will be above 60 million. At both times the company admitted it will be clearly lower than last year.
The company blames changes in major customers’ mobile device and mobile software R&D services. The operating profit before non-recurring items was previously estimated to be positive. Now the company says it will be negative. Nokia’s (OMX: NOK1V, NYSE: NOK) strategy updates within last couple of years have hurt Ixonos greatly. Investors had been hoping that the end of those was in sight, and most likely this should be the last one related to Nokia in the near term. Ixonos says it has ”started the planning process for cost savings”.
No comments:
Post a Comment