Clarity revenues will fail to meet expectations

4th Apr 2011 14:58

Software solutions firm Clarity Commerce Solutions saw shares drop by almost a quarter after it revealed that a series of delays will result in full-year revenue being "significantly below" market forecasts.Clarity said that the challenging market conditions and associated lengthening of sales order cycles addressed in the first half have continued to effect it in the second, with key orders being delayed until the new financial year.As these orders were expected to include large elements of upfront licence income, it will have a consequent impact the "profit or loss position" for the year ended 31 March."The board does not expect any change in market conditions in the short term, but given the quality of the sales pipeline and the opportunities for cost reduction, the Directors remain optimistic about prospects for the new financial year," said chief executive officer Ken Smith.bc