Software firm IFS cuts 2014 guidance on license revenue growth

STOCKHOLM (Reuters) - Swedish enterprise software maker IFS on Monday said it expected its key license revenues to reach about 558 million Swedish crowns (46 million pounds) for the full-year 2014, less than its previous forecast, as some deals are expected to be closed in 2015.

License revenues are now expected to have grown by around 4.5 percent for 2014, preliminary figures showed, below the 10-20 percent range it previously had expected.

"The principal factor was that some of the deals expected in the fourth quarter could not be finalised before the close of the year," Chief Executive Alastair Sorbie said in a statement.

"These deals are now expected to be closed in 2015."

IFS sees earnings before interest and taxes of around 270 million crowns in 2014, up from 204 million in 2013. Cash flow after investments are seen at about 269 million crowns (120 million).

(Reporting by Olof Swahnberg, editing by Terje Solsvik)