13th Nov 2013 11:05
LONDON (Alliance News) - Ubisense Group PLC Wednesday warned that its full-year revenues will be at the lower range of expectations, with earnings before interest, tax, depreciation and amortisation in line with 2012, as it increased investment in its product portfolio and delayed an original equipment manufacturer deal.
The deal was initially expected to fall within the period, producing an expected revenue of around GBP1.9 million, but was delayed due to the size and scope of the contract expanding, the location technology provider said. Ubisense now expects the deal to deliver value next year.
Customer demand has driven it to accelerate investment into its Smart Factory System technology and its MyWorld mobile mapping application, Ubisense said.
In a separate announcement Ubisense said that one of its clients, a European automotive manufacturer, had chosen to extend its use of Ubisense's Smart Factory System technology to a third facility. The technology allows manufacturers to track everything within a facility.
The order is valued at around USD1 million and is part of a global framework agreement with the manufacturer, which Ubisense did not name.
Shares in Ubisense were trading down 4.8% at 190.00 pence Wednesday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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