Health IT company iSOFT (ASX:ISF) has forecast it earned an ebitda of $40 million on revenue of $340 million in FY10.
The company said revenue was impacted by delays associated with the rollout of Lorenzo under its NPfiT contract had impacted revenue to the tune of $4.1 million. But the adjustment had no effect on cashflow.
The delay has held back revenue milestones for a further 12 months, but the additional time and cost to develop Lorenzo is expected to be supported by monthly revenue receipts, iSOFT added.
Join the CIO Australia group on LinkedIn. The group is open to CIOs, IT Directors, COOs, CTOs and senior IT managers.