16th Mar 2016 09:22
LONDON (Alliance News) - Big Data company WANdisco PLC on Wednesday said reduced costs resulted in a narrowed loss in 2015, though revenue edged lower.
WANdisco said its pretax loss for the year to the end of December narrowed to USD31.0 million from USD39.4 million a year earlier, despite revenue slipping slightly to USD11.0 million from USD11.2 million. The narrowed loss resulted from a lower cost of sales and fewer operating expenses.
WANdisco said it expanded its Big Data customer base to 26 clients in the year, from 10 at the start, with the first six of its customers now live. Revenue was down, however, due to delays and customer timings on orders, the company said.
"We reduced costs progressively through the year. Whilst the timing of contract wins remains variable, I am confident that WANdisco enters 2016 on a strengthened operational footing and is moving significantly closer to cash flow break-even," said Chief Executive David Richards.
WANdisco shares were down 16% to 117.25 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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