10/10/2001
One-time FTSE 100 member Autonomy has become the first software developer to issue a negative trading statement in the wake of the terrorist attacks on the US. It seems that as a result of the events of 11 September the company witnessed a disappointing level of sales throughout late September and now expects to report third quarter revenues somewhere between $9.8m and $11m. In the preceding three month period to June turnover topped $14m. Yet chief executive Mike Lynch remained relatively upbeat commenting that 'prior to 11 September we saw a strong improvement in the pipeline and visibility of revenue. We are more positive about medium-term prospects...particularly as this increase in visibility is continuing'. Lynch's positivity in the face of this latest in a series of setbacks, afflicting both his company and the sector in which it operates, bears testament to his endurance. Often feted as the UK's first high-tech billionaire, Lynch's stake in Autonomy is now valued at around £47.5m. Over the past 12 months the company's share price has plummeted from £41.50 to its current level, bottoming out at 160.5p along the way.
| Market cap: | £304m |
| PE Forecast: | n/a |
| Share price: | 239.5p |
| LSE | £2117.2m |
981.00p
|
-12.00p
|
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| Other company articles: |
| 01/06/2007 |
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