Marketing and consumer relationship software provider smartFOCUS says contract and project delays will lead to disappointing 2008 results.
The company is moving to a Software as a Service model and this has a negative short-term effect on revenues.
A full year operating loss of £1.3m on revenues of £10.3m is forecast.
Annual expenses will be cut by £1.4m in 2009. That will lead to a one-off charge of £600,000 in 2008.
A profit of £151,000 was turned into a loss of £649,000 in the six months to June 2008 and there was cash of £1.1m on the balance sheet. This will provide the working capital the company will need.
The shares fell 1.75p to 4.25p each, which values smartFOCUS at £3.99m.
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