ANT has said it expects 2012 revenues to fall short of market expectations after a significant drop in product licences.
The Cambridge-based digital TV software company is attempting to migrate customers from its Fresco browser in favour of the new open standard Galio Suite.
Although revenues for the first half of the year to June 30, 2012 are expected to be higher than 2011, this is largely due to a significant royalty payment from an initial customer rollout, leaving the lack of licence bookings weighing heavily.
“This factor coupled with a significant engineering cost associated with a prime contract spread across the year mean that revenue and profit for the year to 31 December 2012 are expected to fall short of current market expectations,” the company said.
Earlier this month CEO Simon Woodward suddenly departed the company to be replaced on an interim basis by finance director Pauline Ingram.
Ms Ingram had previously announced her own departure from the company, initially expected to take place in September.
