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 King Salman: Just five days in, Saudi Arabia's new king has already overseen a beheading
- 2 The BBC has just done more to eradicate ‘terrorism’ than all our wars since 9/11
- 4 Presidential optical illusion offers clues to how brain processes faces
King Salman: Just five days in, Saudi Arabia's new king has already overseen a beheading
Saudi preacher who 'raped and tortured' his five -year-old daughter to death is released after paying 'blood money'
Auschwitz liberation 70th anniversary: Woman sent to three Nazi death camps describes surviving gas chamber
Presidential optical illusion offers clues to how brain processes faces
Chilling drone footage captures Auschwitz ahead of 70th anniversary of liberation
'We would evict Queen from Buckingham Palace and allocate her council house,' say Greens
French court convicts three over homophobic tweets, in case hailed as a 'significant victory' by LGBT rights campaigners
Greece elections: Syriza and EU on collision course after election win for left-wing party
British Muslim school children suffering a backlash of abuse following Paris attacks
British grandmother Lindsay Sandiford faces execution by firing squad in Indonesia
Louise Mensch says 'F**K YOU' in explosive tweets about David Cameron, Saudi Embassy and the Queen over King Abdullah tributes
iJobs Money & Business
£23000 - £26000 per annum + Benefits: Ashdown Group: Market Research Executive...
£25000 - £35000 per annum: Recruitment Genius: A Technical Report Writer is re...
£16500 - £16640 per annum: Recruitment Genius: This fast growing Finance compa...
£30000 - £32000 per annum + benefits : Ashdown Group: A highly successful, int...