Gentrack 'deeply regrets' downgrade so soon after listing, 'remains profitable'

Wed, 06 Aug 2014

By Jonathan Underhill Aug. 6 (BusinessDesk) - Gentrack Group, whose shares are trading 12 percent below their June initial public offering price, says it "deeply regrets" cutting its guidance so soon after going public, which resulted from a project delay and a payment dispute at two large utility customers. The Institutional investors had expressed concern that Gentrack had to amend its guidance so soon after issuing a prospectus. The company said today that the setbacks only became clear "shortly before the release to the mar...

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