Endace's dive sparks bid buzz
Tuesday 20 March 2012
Shares in the cyber security group Endace's plunged yesterday as it said it would significantly miss its profit target this year and had potentially put itself up for sale.
The shares fell 13 per cent, or 72.5p, to 492.5p, valuing the business at £75m. Analysts predicted it would now probably be taken over by a much larger US rival.
Endace said it had seen a shortfall in orders for network monitoring in its second half, "particularly in the UK Government base".
It said pre-tax profits for the year which ends this month would be about $1m (£630,000) rather than the $3.4m which most analysts had expected. Revenues will be 10 per cent down on City forecasts at some $40m. The company said it would have cash of about $4m at the year end.
Endace said that it had appointed Deutsche Bank "to review options for the future".
- 1 The man who filmed the Freddie Gray video has been arrested at gunpoint
- 3 Top Gear: Jodie Kidd, Philip Glenister and Guy Martin 'in advanced talks' to join show
- 4 Frankie Boyle on Scottish independence: 'In the Interests of Unity, F**k Off'
- 5 How to gain confidence and maximise your sexual potential
Boston Marathon runner's search for mystery man she kissed ends with letter from his wife
Frankie Boyle on Scottish independence: 'In the Interests of Unity, F**k Off'
Italian police 'reveal' what Jesus looked like as a young boy
Mysterious 'X-Files' sounds heard miles above the Earth
Met Gala 2015: Beyoncé manages to out-skimp Rihanna, Miley and Kim Kardashian combined with near-naked ensemble
In defence of liberal democracy
The Rothschild Libel: Why has it taken 200 years for an anti-Semitic slur that emerged from the Battle of Waterloo to be dismissed?
General Election 2015: UK will be 'run for the wealthy and powerful' if Tories retain power, Labour warns
General election live: SNP suspends two members for disrupting Labour rally
Schools forced to act as 'miniature welfare states' with teachers buying underwear and even haircuts for poor pupils
Andy McSmith's Sketch: Feisty audience is the real star of an enlightening show
iJobs Money & Business
£20000 - £25000 per annum + Uncapped commission: SThree: Can you speak German,...
£25000 - £30000 per annum + benefits: Ashdown Group: An exciting opportunity f...
£215 per day: Ashdown Group: Junior Project Manager (website, web application ...
£40-50K: Guru Careers: We are seeking an experienced Software Engineer / Softw...