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Bangalore, Sept. 14 Subex Azure on Friday announced a cut in its guidance for fiscal 2008 due to postponement of capex commitments by a US-based customer.

In a statement to the NSE, the company said some of the contracts to be booked and recognised during the third and fourth quarters of FY08 will be postponed.

Hence the revenue will be revised to Rs 520 crore ($130 million) from Rs 615 crore and profit to Rs 104 crore ($26 million) from Rs 155 crore.

The revenue split among the product business units — RMS (revenue management suite), BT and FAS (fulfilment & assurance solutions) — will now be Rs 272 crore, Rs 88 crore and Rs 160 crore, respectively.

The company had a turnover of Rs 100 crore in the first quarter and the current backlog to be recognised during the rest of FY08 is Rs 260 crore.

“By adopting cost management measures, the reduction of Rs 95 crore in revenue will result in Rs 51-crore reduction in profit after tax,” said Mr Subash Menon, Chairman, Managing Director and CEO, Subex Azure.

The company also confirmed that the acquisition of Syndesis is EPS accretive in fiscal 2008.

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