Alterian Shares Plummet after Second Warning

Shares in UK-based analytics software company Alterian have plunged by more than a third, after the firm issued its second profits warning in just over a week.

Alterian develops software to measure online customer behaviour and for social media monitoring.

Last week, the firm announced that its full-year results would be 'significantly' lower than anticipated, following the deferral of a major client contract renewal. As a consequence, co-founder and CEO David Eldridge (pictured) announced his plans to step down while a successor is recruited.

In its latest profit warning, the firm says that its full-year results will be 'materially' lower than the 10% shortfall of £42m to £44m it forecast last Monday.

'The expected further shortfall arises from both revenue and routine operating costs in comparison with market expectations,' the company said in a statement.

Alterian plans to make a further statement on 18 April.

Web site: www.alterian.com .