Security technology company 4C Security Solutions (ASX:FCS) is planning to restructure its operational model to counteract the pressures on its earnings.
In a letter contained in the company's annual report, CEO Anastasios Angeloglou said the company is anticipating “another challenging year ahead,” and would make adjustments to its sales pipeline in response.
4C plans to adjust its operational model to a centralised base, whereby it will retain direct sales operations for traditional core markets and customers. It will simultaneously implement a network of distributors and resellers in the US, the Middle East and continental Europe.
The current cost control initiatives will also be continued, he said.
4C reported a net loss of $842,000 in FY10, down from a $3.7 million loss in FY09. But revenue fell 21% due to project delays and lower sales attributed to flow-on effects from the global financial crisis.
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