27th Aug 2015 08:46
LONDON (Alliance News) - Software and services company Sopheon PLC on Thursday said it remains confident it is "on the right path" as it posted a narrowed pretax loss for the first half of 2015.
For the half year to end-June the company posted a pretax loss of USD531,000, narrowed from a pretax loss of USD702,000 a year before, as a fall in revenue to USD8.4 million from USD9.2 million was offset by lower operating costs.
Sopheon attributed the fall in revenue to the strength of the dollar against the euro and sterling. Additionally, the company booked 15 license orders in the half year, compared to 17 during the same period a year before.
Gross margin rose to 69.3% from 64.6% the year before.
Sopheon said its revenue visibility for 2015 stands at almost USD15 million, compared to USD12.5 million at the time of its annual general meeting in June.
"We believe Sopheon's actions have positioned us as the leader to beat in the innovation management solutions market, offering a breadth of vision, experience and capability that is unmatched by competitors. We remain confident that Sopheon is on the right path, as reflected by the recent shift in our business momentum," said Chairman Barry Mence in a statement.
Shares in Sopheon were down 4.6% at 45.30 pence Thursday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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