Data#3 downgrades forecasted targets

Data#3 downgrades forecasted targets

Board confident second half profit will exceed first half's profit

IT solutions company Data#3 has indicated it will not achieved "aggressive targets" forecasted in its February half-year results statement.

The board of directors today updated the market in relation to the company's outlook.

"The previous guidance provided with Data#3's half-year results on February 19 2014 indicated that 'activity levels are very high and, with pipeline building, our original 2H FY14 target, while aggressive, is not beyond reach'," the company said in a statement.

Today the board indicated that, while activity levels still remain high and the pipeline of opportunity continues to build, it was not sufficiently strong to allow the company to achieve this target.

"Forecasts are significantly dependent on trading toward the end of the period, with a range of potential outcomes, and as a result the board indicated there is not enough certainty at this time to provide further guidance," the statement said.

"It was however, confident that the company's second half profit would exceed the first half's profit."

Data#3 reported revenues of $771 million in FY13 and $399 million in the first half of the 2014 financial year.

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Tags Data#3John GrantHybrid IThalf-year results


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