OneView suffers from low order intake

5th Dec 2016 08:56

(ShareCast News) - OneView, an AIM-listed digital transformation software providers for in-store customer sales and service, recorded a fall in revenues due to poor order intake in the first half.These new business delays led to revenue falling to $1.20m in the first half ended 30 September 2016 from $4m in the previous period.It recorded a loss before tax of $2.4m, down from a loss of $0.4m in the same period of 2015.Basic loss per share remained at $0.01. Cash and cash equivalents at period end was also unchanged at $0.2m.The company has focused on getting existing customers live, with the first store operational in October 2016.The newly built store inventory, which tracks inventory balances in real-time at a store level, is receiving a lot of interest from the market.The group has closed two cloud-based hosting services deals over the past few months, the second one being with cosmetic brand Molton Brown post-period end.It has completed the technical integration with IBM's e-commerce and order management solutions and is now working with them to take the offering to their retail customer base.Chief executive Stuart Mitchell said: "We are a young Company with leading edge technologies resolving some of the most pressing challenges faced by retailers today. However, because our customers and prospects tend to be large retailers, sales cycles remain long and forecasting closure dates can be difficult, leading to uncertainty in the timing of revenues. Notwithstanding this, we believe the Company is well positioned to deliver good returns to our shareholders over the coming years."The share price fell 7.5% at 3.70p at 0955 GMT on Monday.