Norkom Technologies in profit warning

SPECIALIST IT services company Norkom Technologies has issued a profit warning for the first half of its current financial year.

The Dublin-headquartered company – which has a significant international sales network for its range of anti-fraud and money laundering software solutions for financial services firms – said yesterday, via a trading update, that EBITDA (earnings before interest, tax, depreciation and amortisation) for the six months to the end of September should amount to between €1.2 million and €1.5m. This would be down from the €4.5m generated in the same period last year.

The company also expects first-half revenue to amount to somewhere between €22m and €22.5m; which would be down from €24.6m at the corresponding period last year.