Jan. 31 (Bloomberg) -- Aldata Solution Oyj, the Finnish developer of software for the retail industry, cut its full-year guidance on “bad” debts.
Aldata sees a “significant” operating loss for 2011 due to costs incurred on provisions for “bad and doubtful debts” and empty office space, the Vantaa, Finland-based company said today in a statement. It had previously forecast a loss for the full year.
Aldata climbed 16 percent last year as Palo Alto, California-based Symphony Technology Group LLC, offered to purchase all issued and outstanding shares. Symphony now holds 90 percent of Aldata shares, according to the Finnish company’s website.
The costs come on top of expenses announced earlier. Net sales will fall “somewhat” from last year, Aldata said. The company will publish earnings on Feb. 16.
--Editors: Kati Pohjanpalo, Meera Bhatia
To contact the reporter on this story: Kasper Viita in Helsinki at firstname.lastname@example.org
To contact the editor responsible for this story: Christian Wienberg at email@example.com