[Satellite Today 07-29-09] Integral System’s third quarter results will not meet the company’s expectations, according to a statement by CEO John Higginbotham, released July 28.
    The company’s management projects revenues at $39 million, a loss of .09 cents per share. Full-year revenues are expected to be $160 million, a 5 percent drop from Integral’s previously reported mid-year estimate.
    “The prolonged global recession continues to weigh on business placing pressure on our customers and our business partners and extending business development cycles across our markets,” said Higginbotham, adding that Integral’s earnings will continue to be impacted by lower revenues from delayed contract awards and higher-than-anticipated overhead and support costs. Higginbotham also cited a “significant bad debt reserve” taken on one of the company’s commercial contracts as a factor in its expected revenue shortfalls.
    Integral will announce its official 2009 third quarter results Aug. 3.