SkillSoft, the US technology firm which employs 200 staff at its European corporate headquarters in Dublin, has said its losses for the year ended January 31st, 2004 will be less than earlier indicated.
The company, which develops e-learning courseware for corporations, also said that fiscal 2005 earnings would beat its 2004 performance, excluding the potential impact of ongoing legal cases.
SkillSoft has been embroiled in a number of cases over the past year, including a class-action law suit that dates from a slump in SmartForce's shares in the late- 1990s, following a profit warning.
The firm settled that particular lawsuit last year but still faces a separate suit from shareholders regarding the restatement of SkillSoft's results following its acquisition of SmartForce in 2002.
The company is also the subject of an inquiry by the Securities and Exchange Commission.
In a statement to the Nasdaq, SkillSoft said it expected to modestly exceed its previously estimated range of $0.04-$0.05 net income per share for the fourth quarter of fiscal 2004, with revenue higher than its previous guidance of between $51 million (€41.8 million) and $53 million.
The firm also said it anticipated reporting a fiscal 2004 loss narrower than its previously estimated range for a loss of 83-84 US cents a share including charges, and said revenue would slightly exceed its previous view of $185-$190 million.
The announcement from the company, which will release its fiscal 2004 results later this month, sent its shares close to its 12-month high of $11.21.
SkillSoft shares subsequently fell back to close up 11 cents at $10.66.
