Promethean warns of weaker Q4


Promethean warns of weaker Q4

Simon Quicke

Education technology specialist Promethean World has warned that its fiscal fourth quarter has not been strong on the revenue front and full year numbers will be impacted.

In guidance on Q4 from the firm's board it revealed that year-on-year revenues had not been as good and the full results would be below market expectations.

"In its last Interim Management Statement, on 28th October 2010, Promethean noted that, while customer interest and the long-term drivers of demand for its technologies remained strong, current market conditions were difficult due to budgetary uncertainties and constraints," it stated.

"Since that announcement, the Group has seen a deepening of these uncertainties and constraints particularly in the United States, and also in Europe," the firm added.

A disappointing fourth quarter would extend the softness that emerged in Q3 when a slowdown in the US hit the vendor's ambitions.

But the board indicated that the soft revenue was not a permanent condition of the market believing that, " the current slow down is primarily the consequence of a deferral of customer spending, rather than any alteration in their long-term intention to adopt interactive learning technology."

It's not a great result for the investors who backed the firm when it went through an IPO back in March.
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