Mobile marketing company CDialogues (LON:CDOG) has warned earnings for the year will take a hit after third quarter revenues slumped and delays hit its fourth quarter project line-up.
CDialogues said revenue for the year to December will be lower than hopes, with underlying earnings [EBITDA] “materially below current market expectations”.
Third quarter sales were lower due to the under-performance of certain schemes in September.
Since then, revenues have not improved, with current revenue levels expected to continue until the end of the year.
Meanwhile, the company has delayed projects due to start in the fourth quarter to 2016, but has already incurred costs.
CDialogues also said it is likely to reduce internal forecasts for next year as a result of the events.
But the company noted a strong cash position of £2.53mln compared to £1.7mln at this stage in 2014, and it paid out a dividend of £196,680 earlier this year.