IPTV integration software supplier ANT says that sales cycles are lengthening and 2011 figures will not meet expectations.
The shipping of orders has been delayed and new licences are taking longer to secure. The share price slumped 5.75p to 15.75p, valuing the company at £3.83m.
Back in October, ANT said that there were 27 set top box licensees that were shipping products.
ANT admits that 2011 revenues will be similar to the £4.3m reported in 2010 and the operating loss will be more than last year’s £600,000 loss. A pre-tax loss of around £100,000 was previously expected for this year, following the first half loss of £310,000. Interim revenues were flat at £2.14m.
There was £4.78m in the bank at the end of June 2011 and it should remain above £4m at the end of the year.
Arbuthnot originally believed that ANT could move into profit in 2012.
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