Graphics and media asset management (MAM) provider Orad disclosed that it expects its Q4 2012 revenue to be in the range of between approximately $ 6.9m and $7.1m, 18% to 21% lower than the third quarter of 2012.
As a result of the lower revenue, the company says it now expects to report a net loss in the range of $600,000 to $800,000 for the fourth quarter of 2012.
The company said its Q4 2012 revenue decline was “largely due to the economic weakening of Orad’s target markets, particularly Europe. The uncertainties in the economic environment have led to lengthening of sales cycles and to delay of some customers’ investment decisions.”
Orad says that it now expects to report a net profit in the range of $1m to $1.2m for the full year 2012, 27% to 34% lower than last year.
This announcement appears to be a continuation of the decline in European revenue that Orad began to experience in the third quarter of 2012. The company’s revenue in the third quarter of 2012 was $8.8m, down 2.7% versus the same period a year ago, and down 14% versus the previous quarter. At that time, company CEO Avi Sharir said the company’s Q3 results were impacted by a slowdown in its markets, especially in Europe.
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