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24 Jul 2019 | 09:32

Sopheon warns first-half earnings will more than halve

Business software company Sopheon warned its first-half earnings would more than half amid delays closing deals.

Ebitda for the six months through June was expected to fall to around $2m, down from $4.1m on-year.

Revenue was seen falling to $13.7m, down from $15.9m on-year.

For the full year, the company said it expected to post a flat revenue performance.

'As we have always stated, our licensing model has been predominantly perpetual and consequently the precise timing of deal closure plays a significant role in periodic revenue recognition,' Sopheon said.

'Our sales pipeline includes a large number of opportunities where we are strongly positioned and that we remain confident have a high probability of closing in the balance of the year.'

At 9:32am: (LON:SPE) Sopheon PLC share price was -190p at 750p

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