2nd Mar 2015 10:57
LONDON (Alliance News) - Postal industry software company Escher Group Holdings PLC on Monday said it will recognise the remaining revenue from a key customer in the first quarter of the year.
Escher issued a profit warning for 2014 in January due to delays to a major licence agreement.
On Monday, it said it will recognise the USD2.4 million in delayed revenue in the first quarter of this year.
It added that maintenance fees commensurate with the scale of the project will start in March.
"We are delighted to have completed this phase of the project with this key customer which is an important development in the contract," said Escher Chief Executive Officer Liam Church.
Shares in Escher were untraded on Monday, having last traded at 189.77 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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