Shares in Irish Internet security company Baltimore Technologies hit a 26-month low on the London Stock Exchange today, after US rival Entrust warned that first-quarter results would fall below previous expectations.
Baltimore shares down 13.75p to 71.5p a fall of 15 per cent this afternoon.
Entrust, one of Baltimore's main competitors in the Internet security software market, cut its revenue forecast for the quarter from $50 million to $31 million.
The company blamed a slowdown in the US economy. Last week, Baltimore cut its revenue forecasts for the first quarter of 2001 by 25 per cent, blaming the sluggish US economy.