Sausage Software has warned that its full year revenue would be around AU$150 million, AU$14 million below its previous forecasts, but said it was still too soon to predict a full year profit result.
While it only has days to go before the June 30 financial year end, Sausage said the board was continuing to review its assets and the adequacy of a close to AU$190 million write-off announced in January.
The group posted a first half net loss of AU$211.37 million after the write-off, giving it a loss of AU$8.33 million on an earnings before interest, tax, depreciation and amortisation (EBITDA) basis.
The Internet technology group said it became EBITDA positive during the March quarter, with an EBITDA loss in April followed by an EBITDA profit in May.
Sausage shares dropped 2.5 cents or more than five percent to 44.5 cents against a weaker overall market.
"The consulting business, which generates approximately 70 percent of total revenues, is expected to deliver strong revenues for June although other business units remain inconsistent," Sausage said in a statement to the Australian Stock Exchange.
The proceeds of a AU$17.3 million placement announced in May would give the group "adequate liquidity", Sausage said.
