Object Design has become the latest software vendor to blame delays in customer purchases for poorer than expected first quarter financial results.
For the quarter ending 31 March, 1999, the object database supplier said it now anticipated revenues to between $12.5-13 million compared with sales of $13 million in the same period last year.
It also expects to turn in a net loss of between $0.07-0.08 per share compared to a breakeven result in the year ago quarter. The First Call analysts' consensus had reckoned on earnings of $0.03 per share.
Justin Perreault, Object Design?s president and chief executive, said: O am not satisfied with our results this quarter. While we saw some market softness and delays in customer purchases, we also did not implement our sales and marketing strategy effectively during the quarter." He continued: "We believe that there remains a positive market outlook for our Objectstore database and we are taking steps to improve our execution."
The firm expects to announce its figures on 15 April.
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