Alterian sees strong Q3, but warns full-year might miss targets

The company said in an interim management statement that while the US had seen an “exceptional performance” in Q3 its business in the UK and Europe had been adversely affected by the economic climate.

Alterian said revenue in the region had been “broadly flat compared to the prior year” and that “several substantial” contracts that were due to close at the end of December had been deferred.

“Whilst the out-turn for the full year is not certain, if the close rate of the UK and European pipeline continues at Q3 exit rates, higher than anticipated revenues will be needed from the US and other international markets in order to fully achieve market expectations for the full year,” Alterian said.

Group-wide, the firm said that revenue in the third quarter was up by 21% compared to Q3 2008 while year-to-date revenues were up by 29%.

Alterian is headed by CEO David Eldridge (pictured).