10th Feb 2016 08:50
LONDON (Alliance News) - WANdisco PLC said Wednesday that it expects to report revenue for 2015 "slightly below" analysts expectations, although it expects cost reductions to help result in a smaller adjusted loss before interest, tax, depreciation and amortisation than expected.
The company, which provides Big Data software, said that despite continuing to see variability in new sales bookings, revenue was boosted by deferred revenue being released from previous periods.
Additionally, the company continued to strongly control costs, and as a result saw lower cash overheads in the second half of 2015 compared to the first. It expects this to result in a "significantly reduced" cost base for 2016.
WANdisco will report its full year results March 16.
"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," said Chief Executive Officer David Richards in a statement.
Shares in WANdisco were down 15% at 157.50 pence Wednesday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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