Feeds

iSoft in intensive care

Health provider looks sickly

3 Big data security analytics techniques

iSoft - one of the primary providers for the government's NHS IT project - saw its shares fall 38 per cent yesterday when it announced job cuts and changes to how it accounts for revenue.

iSoft shares have fallen from over 400p a share last December to just 54p today. The changes to accounts mean its results will be delayed until 11 July. Revenue, which was expected to be between £210m and £215m, is now likely to be between £195m and £200m. The changes mean iSoft is renegotiating with its banks to agree new terms.

The company also said it is cutting 150 jobs or 15 per cent of its workforce.

Ovum analyst Tola Sargeant warned that the string of bad news from iSoft must be making existing and potential customers nervous. Sargeant said: "It looks like we'll have to wait for the company's results announcement in July to get clarity on the results of discussions about the rescheduling of its contractual delivery schedule under NPfIT and the results of iSoft's talks with its bankers. Both of these discussions could have make or break consequences for the company. In the meantime, iSoft is looking more and more like a potential acquisition target."

Read the whole RNS statement here and from Ovum here.®

Combat fraud and increase customer satisfaction

More from The Register

next story
Did a date calculation bug just cost hard-up Co-op Bank £110m?
And just when Brit banking org needs £400m to stay afloat
One year on: diplomatic fail as Chinese APT gangs get back to work
Mandiant says past 12 months shows Beijing won't call off its hackers
MtGox chief Karpelès refuses to come to US for g-men's grilling
Bitcoin baron says he needs another lawyer for FinCEN chat
Don't let no-hire pact suit witnesses call Steve Jobs a bullyboy, plead Apple and Google
'Irrelevant' character evidence should be excluded – lawyers
EFF: Feds plan to put 52 MILLION FACES into recognition database
System would identify faces as part of biometrics collection
Lavabit loses contempt of court appeal over protecting Snowden, customers
Judges rule complaints about government power are too little, too late
Whoever you vote for, Google gets in
Report uncovers giant octopus squid of lobbying influence
Ex-Tony Blair adviser is new top boss at UK spy-hive GCHQ
Robert Hannigan to replace Sir Iain Lobban in the autumn
Alphadex fires back at British Gas with overcharging allegation
Brit colo outfit says it paid for 347KVA, has been charged for 1940KVA
Jack the RIPA: Blighty cops ignore law, retain innocents' comms data
Prime minister: Nothing to see here, go about your business
prev story

Whitepapers

Designing a defence for mobile apps
In this whitepaper learn the various considerations for defending mobile applications; from the mobile application architecture itself to the myriad testing technologies needed to properly assess mobile applications risk.
3 Big data security analytics techniques
Applying these Big Data security analytics techniques can help you make your business safer by detecting attacks early, before significant damage is done.
Five 3D headsets to be won!
We were so impressed by the Durovis Dive headset we’ve asked the company to give some away to Reg readers.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Securing web applications made simple and scalable
In this whitepaper learn how automated security testing can provide a simple and scalable way to protect your web applications.