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Sopheon sees full-year result beating market expectations

By BFN News | 07:35 AM | Monday 08 October, 2018


Management software group Sopheon said it now expected its results for the full year to exceed current market expectations after it won new business in the third quarter. Revenue visibility had now broken through the $30m mark, the company said. Back in August, it had said revenue visibility for the year was at $27.2m. 'Since that statement, a number of further transactions have been signed resulting in a record third quarter performance, traditionally our quietest quarter due to the holiday period,' Sopheon said. Included in the wins were two material contracts booked during the final days of the quarter. One was with a new enterprise customer, and the other was a license extension.' 'We view this continued delivery of commercial results as emblematic of the growing maturity of the market that we serve, and of Sopheon's rising reputation for value underpinned by increasing adoption of our solutions,' the company said. 'Sales pipeline activity for the balance of the year remains robust.' 'The board now expects the results for the year to exceed current market expectations.' Story provided by StockMarketWire.com

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