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Sopheon expects lower annual earnings on flat revenue
StockMarketWire.com
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Enterprise software group Sopheon said it expected to report a fall in annual earnings amid a flat sales performance.
Adjusted earnings before interest, tax, depreciation and amortisation for the year through December was expected to be in the region of $5.6 million, down from $6.4 million year-on-year.
Revenue was expected to be unchanged at around $30 million.
'As in prior years, the final quarter was the strongest of the year for the group, and in fact stronger than 2019, despite the resurgence of Covid concerns globally,' Sopheon said.
Annual recurring revenue was expected to rise to $18 million, up from $15.9 million.
'This, coupled with a substantial order book of services, means that revenue visibility for 2021 is already at $22 million, compared to $18.9 million in 2019, giving cause for optimism regarding the year ahead,' the company added.
At 9:06am: (LON:SPE) Sopheon PLC share price was 0p at 795p
Story provided by StockMarketWire.com
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