SLI Systems Still Struggling
May 26, 2015
Early this year, we reported on the sudden personnel shift over at e-commerce search firm SLI Systems. Now, New Zealand’s National Business Review reports, “SLI Systems Says Second-Half Revenue Will Miss Expectations on Weaker American Sales.” It seems the staff shake-up led to disappointing sales, but the company is confident they will make up ground later this year, after the dust settles. They also cite a weak economy in Brazil as a limiting factor. Reporter Tina Morrison writes:
“Operating revenue will rise to $28 million in the year ending June 30, from $22 million a year earlier, the Christchurch-based company said in a statement. The forecast is lower than the $30.5 million expected by analysts in a Reuters poll. …
“The company is forgoing profits and dividends to fund growth in the expanding e-commerce market, particularly in the US, and says its software as a service is the second biggest after Oracle to provide online retailers with suggestive search engines. Analysts polled by Reuters before today’s announcement had expected the company’s annual loss to widen to $7 million this year, from $5.7 million last year. It expects to report its annual earnings in late August.”
Founded in 2001, SLI Systems now powers e-commerce on over 800 websites. The company is based in Christchurch, New Zealand, and maintains offices in San Jose, California; London; Melbourne; and Tokyo. Anyone who thinks they can help the company bounce back should note that (as of this writing) SLI is looking for new Sales Directors in Melbourne and San Jose.
Cynthia Murrell, May 26, 2015