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(Sharecast News) - Cerillion tumbled on Monday after it warned that full-year revenue would miss market expectations as some anticipated new and existing customer orders have been delayed or deferred.
The billing, charging and customer relationship management software solutions provider said that while the second-half results will be "significantly" ahead of the first half, the year's outturn will be behind consensus market forecasts for revenue of £52.80m and an adjusted EBITDA margin of 45.2%.
It now expects revenue of between £46m and £48m, with adjusted EBITDA margin of 43% to 45%. In the prior financial year, revenue was £45.4m and the adjusted EBITDA margin was 50.9%.
"The main reason for the shortfall is that some anticipated new and existing customer orders have been delayed or deferred," it said. "This included software licence expansions and upgrades."
Cerillion said major implementations are progressing, with the transformation project at UCom nearing completion and software installation having been completed at Omantel. It said the back-order book remains strong, the new customer pipeline remains healthy and the balance sheet is "very" robust.
Full-year results are set to be announced at the end of November.
At 0920 BST, the shares were down 16.4% at 740p.
See latest RNS on Investegate
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