29th Jan 2014 08:34
LONDON (Alliance News) - Enterprise software company Sopheon PLC Wednesday said it expects 2013 operating profits to be in line with expectations after revenues in the fourth quarter came in at a record level.
In early November, the company had warned that meeting its goals would require a strong finish to the year as it looked to close several sales opportunities. "The final weeks of 2013 did indeed prove exceptionally busy, and revenues in the fourth quarter exceeded previous highs," it said.
In a trading update, Sopheon said early indications suggest 2013 earnings before interest, tax, depreciation and amortisation will be in line with market expectations of GBP1.8 million, with revenues at about GBP13.2 million, up from GBP12.7 million in 2012.
"The robust finish to the year has led to a high services backlog for 2014. Coupled with a rising maintenance base, this means that visibility for the current year already stands at GBP6.6 million. Furthermore, the group entered 2014 with a strong sales pipeline," it said.
Still Sopheon shares were down 1.3% at 81.45 pence early Wednesday.
By Steve McGrath; [email protected]; @SteveMcGrath1
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