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Jena (pte042/03.04.2003/15:44) - Listed e-business software specialist Intershop Communications http://www.intershop.de has issued a revenue warning for the first quarter of 2003. This comes as a great set-back for the company, which managed to break even in the fourth quarter of 2002.
Intershop expects sales revenues of between six and seven million euros in the first quarter of this year, compared to 12m euros in the previous quarter. The company has therefore issued a release stating that licensing revenues would fall far below the company's own expectations. Earnings before interest, taxes, depreciation and amortisation are expected to fall between minus six and seven million euros.
"In light of currently high economic insecurity and continuing weak investments in the entire software branch, we were not able to close some deals as planned in the first quarter of 2003," said chairman of the board Stephan Schambach. "However, as many of our potential clients have only postponed their IT investments, we expect to be able to carry out a large number of these orders in the coming months," said Schambach.
Intershop implemented a cost savings programme in the first quarter of 2003. The complete report for the first quarter will be published on 30 April.
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