Stock Exchange Release
STONESOFT CORP. ISSUES PROFIT WARNING
The company has earlier estimated that the EBITA of the last quarter of the year will be positive but that reaching this target may be challenging due to delays occurred in sales force recruitments.
According to the present revenue projections of the company the positive quarterly result will probably be delayed until next year mainly because of the fact that hiring and training of new sales people has been slower than anticipated.
The sales of the company’s main product, StoneGate, continued its strong growth during the first half year of the year 2005 being +58 % compared with the corresponding period in the previous year. The company still believes that its core business, sales of Stone Gate products, will continue to grow significantly faster than the estimated average annual growth of 20% in the network security market forecasted by some of the key research institutes, IDC and Datamonitor. Due to seasonal variations, the growth percentage may vary by quarter.
Stonesoft will issue its Interim results for the first half year in July 29,2005.
For additional information, please contact:
Ilkka Hiidenheimo, CEO, Stonesoft Corp.
Tel. +358 9 476711
E-mail: ilkka.hiidenheimo@stonesoft.com
Mikael Nyberg, CFO, Stonesoft Corp.
Tel. +358 9 476711
E-mail: mikael.nyberg@stonesoft.com
Stonesoft Corp.
Ilkka Hiidenheimo
CEO
Distribution:
The Helsinki Stock Exchange
Main Media
Tuesday, July 26, 2005