Staffware?s shares plummeted 56p to #197.5 yesterday, after the workflow software supplier issued a profits warning for its year-end figures.
The firm, which is listed on the US-based Alternative Investment Market, blamed the shortfall on slow sales in the US and costs associated with the failed acquisition of its main rival in Austria, CSE, last quarter.
Costs were also incurred by increasing staff levels in both the US and Germany, the latter to try and boost growth to compensate for the aborted CSE purchase.
Staffware expects to generate sales of $10 million (#6 million) for the year ending 31 December, as opposed to analysts' expected figure of $11 million, with profits of $1 million. Analysts had expected profits of $2 million.
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