Isocor Inc, the Santa Monica, California-based messaging and directory software company, said on Monday that its third quarter results will disappoint due to delayed revenue recognition on some larger projects. Revenues are expected to fall to $5m, a drop of around 25% over last year. The company also said it expected to make net losses for the quarter which would be substantially greater than the $1.0m loss endured in the third quarter last year. CEO, Paul Gigg said Isocor’s gross margin had suffered from a shift towards services-based revenues, and that despite higher order levels the move towards larger contracts would result in temporarily delayed revenue recognition.
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