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Delayed sale to hit eServGlobal's (ASX:ESV) FY10 ebitda

Delayed sale to hit eServGlobal's (ASX:ESV) FY10 ebitda

OSS/BSS vendor eServGlobal (ASX:ESV) has revealed it has been forced to push back the sale of its USP business to Oracle until FY11, leading to an anticipated ebitda loss for FY10.

The company said that the transaction had been delayed in what was simply a financial reporting timing issue. Nevertheless, eServGlobal expects an ebitda loss of between $10 million and $15 million as a result of the delay.

But because the sale will be realised for FY11, earnings will be augmented by an estimated $106.1 million (based on current exchange rates).

FY11 operating revenue is expected to be in the range of $38 million to $45 million.

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Tags ASX:ESV eServGlobal Guidance Oracle

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