Operating margin guidance was unchanged. “This was due to inconsistent operational execution,” CFO Stephen Hare said during a conference call. The company said it will have more detail in May but it said enterprise sales were below expectation in the United States, Africa and the Middle East (Read X-3), contract license slippage in the Middle East and inconsistent execution around recurring revenue in Northern Europe. CEO Stephen Kelly said executives still “are confident of achieving double-digit growth” but they need to determine if the setbacks will “cost us time” in achieving goals.
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Sage held a trading up date for its first half ended March that was not on the schedule. The company this week said organic growth was below expectations and reduced its guidance from 8-percent growth for the year ending September 30 to 6-percent growth.
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