The software and services company said its first half would likely show a loss due to additional product development expenses and deferred revenue, as it attempts to rectify issues with some of its current contracts.
Recently appointed Chief Executive
In the meantime Cairns has already taken some immediate action,
However, the company reiterated confidence that a portion of the delayed revenue could be recovered, and alongside its pipeline of contracts, bring its full-year performance in line with 2013.
The company is also looking to secure partners to assist in implementing large projects reliably, as well as widening its geographic reach and bolstering its sales and marketing efforts. It has begun initial discussions with a professional services company about a potential partnership, it said.
It said its Chinese joint venture was performing ahead of its expectations, and its Vista, Ingentaconnect and PCG businesses continued to trade well.
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