BOULDER, Colo.—SignalSoft Corp. expects to report revenue below guidance for the first quarter ended March 31, due to delayed deployments of new mobile location services by major wireless carriers.
SignalSoft said revenues for the quarter should total approximately $3.8 million to $4 million, which is less than previous guidance of $4.1 million to $5 million. As a result, the company plans to lay off an unspecified number of employees and reduce other operating expenses in order to maintain its goal of ending the year with cash and marketable investments in the $33 million to $38 million range.
“During the first quarter, we saw many of our customers engaged in corporate restructuring efforts and taking more time in their decision-making and deployments,” said David Hose, president and chief executive officer of SignalSoft. “At the same time, mobile operators are increasingly advertising the value of location-based services to consumers and continue to tell us that these services are critical to their long-term plans.”
SignalSoft also said it expects to report a loss for the first quarter of approximately 28 cents to 30 cents per share.
