Attunity misses expectations in latest quarter as 2015 sales are also off the mark
Last updated: 11:03 28 Jan 2016 EST, First published: 06:03 28 Jan 2016 EST
Big data management firm Attunity (NASDAQ:ATTU) failed to impress markets with its latest earnings results.
Shares in the company plummeted as it reported US$0.01 earnings per share for its fourth quarter, missing estimates of US$0.13.
It also released results for 2015, which saw revenues rise 36% compared to the previous year, though this was lower than expected as well.
Shimon Alon, chairman and chief executive, said: “Revenue for the year was slightly impacted by longer sales cycles and new licensing models associated with providing these large-scale solutions to global customers.”
“As a result, revenue was slightly lower than the annual guidance we provided in March after acquiring Appfluent," he added.
Shares in the company have performed admirably since listing a year ago, but were more than 30% down on Thursday to US$6.61.
Despite the difficulties, Alon remained upbeat, calling 2015 “a transformational year” for the firm.
