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StockMarketWire.com
Management software group Sopheon said it now expected its results for the full year to exceed current market expectations after it won new business in the third quarter.

Revenue visibility had now broken through the $30m mark, the company said.

Back in August, it had said revenue visibility for the year was at $27.2m.

'Since that statement, a number of further transactions have been signed resulting in a record third quarter performance, traditionally our quietest quarter due to the holiday period,' Sopheon said.

Included in the wins were two material contracts booked during the final days of the quarter. One was with a new enterprise customer, and the other was a license extension.'

'We view this continued delivery of commercial results as emblematic of the growing maturity of the market that we serve, and of Sopheon's rising reputation for value underpinned by increasing adoption of our solutions,' the company said.

'Sales pipeline activity for the balance of the year remains robust.'

'The board now expects the results for the year to exceed current market expectations.'

StockMarketWire.com
Management software supplier Sopheon said it was partnering with global confectioner Hershey Company to support digital transformation of its product innovation portfolios.

Sopheon said it would help Hershey integrate knowledge discovery, insights and learning for better understanding and decision making in response to business opportunities and challenges.

'We are thrilled to be working with one of the world's most legendary consumer packaged goods brands in Hershey,' said chief executive Andy Michuda.

'Sopheon has helped dozens of food and consumer goods companies harness the right data and right technology to identify and seize growth opportunities, and we are excited to help drive the same results for The Hershey Company.'

StockMarketWire.com
Management software provider Sopheon said it may post a higher-than-expected annual profit after its sales continued to surge in the final months of the year.

The company had said in October that its third-quarter performance had taken revenue visibility for 2018 above $30m.

'We are pleased to report continued commercial delivery in the final months of the year, evidenced by the recently-announced partnership with global confectioner The Hershey Company,' the company said.

'Accordingly, we expect that revenue for the year ended 31 December 2018 will be comfortably in line with the already-upgraded market expectations.'

Sopheon added that 'early indications' pointed to a 'stronger outperformance' at both the pre-tax profit and Ebitda levels.

Further information would be provided towards the end of January in a more detailed trading update, ahead of a results release on 21 March, the company said.