iTrain, a Growth Company Investor recommendation at 9.75p, has warned on profits following an 'unfortunate couple of slippages'. But, having spoken with management, we remain convinced this business offers an exciting growth story. In a surprise pre-close update, chairman Derek Moore explained sales for the year to December would now come in at around £1.1m, falling short of the forecast £1.6m and restricting pre-tax profits to £100,000, significantly lower than the £600,000 predicted by the City. The IT training software provider's traditional iTrain business is performing to expectations, but there has been 'very recent slippage' in some significant orders, in particular, from a distributor for which sales are now expected in January. Moore also bemoaned a delay on 'one generic order' worth £200,000 - he insists these revenues will be lodged in the New Year. Aside from these timing blips, iTrain continues to develop. Recent acquisition Applied Interactive, a supplier of training software solutions, is integrating well and Moore is upbeat about the order pipeline for the New Year. Don't forget iTrain is on a strong growth path: the company enjoyed a near 50% sales hike in its first half to June to £440,000, with losses dropping 67% to £30,000. A 20% drop in the share price on the trading update should not panic investors. If you bought on our advice, hold your nerve.