UK-based automated telephony speech solutions group Telephonetics stated today that it expects its year-end results to 30 November 2006 to be in line with market expectations.
However, the company also gave guidance that year-end results to 30 November 2007 would be below market expectations. Blame was pointed at a slower uptake of products within the health sector and slower than forecast international expansion of Movieline.
Telephonetics intend to invest a significant amount in the sales team in order to tackle the sluggish sales and gain market position.
CEO Anthony Mckay added:
"Telephonetics has now emerged from the integration and restructuring that commenced with the acquisition of Voice Integrated Products last summer. The opportunity for the enlarged group to take a strong strategic position in the automated telephony speech sector is one which has been wholly embraced throughout the business, and the Board and the management remain both excited and optimistic about the short and medium term for the Company."
The shares retreated 18.5% to 9.75p.