Swedish direct access technology firm Orc Software has warned that its Q3 revenue will be significantly lower than the previous quarter because it has failed to secure any orders for its Orc Liquidator platform during the period.
In a statement, Orc says a number of negotiations are under way for its server-based automated trading platform Orc Liquidator, but it has not completed any sales or deliveries of the system.
The drop in revenue will in turn result in lower operating margins for Q3, in comparison with the second quarter of the year.
Nils Nilsson, CEO, Orc Software, says: "At the beginning of the quarter we had hoped to complete several Liquidator deals, but we unfortunately did not succeed in doing so."