Baltimore Technologies said today that its loss for the year before interest, tax, depreciation and amortisation rose to £25.4 million while revenues doubled to £74.2 million.
Revenues were better than analysts had expected and the loss was significantly smaller than the 31.3 to 35.7 million euro forecast. The internet security company, now a leading global player in the sector, said it was confident about prospects for 2001.
'Along with other technology vendors, we are aware of a potential short-term impact of the downturn in the US economy. However we remain confident about our full year prospects and growth towards profitability', Fran Rooney, Baltimore's Executive Chairman said.
He added that he was confident the company would regain its position in the FTSE 100 share index.
The company's shares rose sharply yesterday after the announcement of a major mobile phone deal with NTT DoCoMo, Japan's leading mobile phone operator. But they fell by nearly 10% to 280p sterling in London today after the news of the deepening losses.
