Horizon Technology Group says it expects to see single digit growth in its adjusted earnings per share for 2007.
In a year end trading update, the company said that its revenues in December were lower than expected, partly due to orders slipping into 2008.
It added that its bad debt provisions need to be strengthened by €0.8m because of its exposure to a 'significant' UK customer who has gone out of business.
However, it added that it has performed ahead of expectations in terms of cash generation and market share growth.
'Having generated approximately €11m of cash flow in 2007 and with net cash at 31 December 2007 of approximately €4m, the group is in a very strong financial position,' the trading statement added.
The company is due to report its full year results for 2007 on March 13.
Horizon shares closed down 11 cent at 54 cent in Dublin - a fall of more than 17%.
