Troubled Irish security software company Baltimore Technologies has restated its 2000 and first-half 2001 revenues for a second time, it was announced today.
Baltimore's Japanese division, BTJ, reduced its revenues by £724,000 sterling or 1 per cent, and the net loss for the period has also fallen by this amount. Baltimore sold BTJ last week for £4.73 million.
For the six-month period to June 2001, revenues have been adjusted downward by 2 per cent.
Baltimore said today it believed it has resolved all the issues that have given rise to these additional adjustments and the adjustments previously announced on July 30th, 2001.
Although the revenue cuts are small overall, it is the second time they have been restated, which will not help to improve sentiment towards the stock, analysts said today.