SSH Updates Revenue Estimate For Fiscal Year 2002
Due to the weaker than expected sales in the United States, the Company has to update the revenue target for fiscal year 2002. It is expected that SSH Group’s net sales for the whole fiscal year will be lower than earlier estimated. Annual net sales in the fiscal year are expected to be between EUR 16 million and EUR 17 million, a decrease between 14 to 19 percent compared to the previous year (previous estimation was a growth between 6 to 16 percent).
The main reason for updating the revenue target is the continuation of end-user organizations’ delays in investment decisions in the United States and weaker than expected demand of data security products. Also the further increase of uncertainty in the global economy is slowing down customer’s IT investment decisions, especially in the United States.
The full fiscal year 2002 result will be negative.
More detailed information concerning the development of the net sales will be given while announcing the interim results for the first three quarters of the year on October 23, 2002.