The results, released late yesterday, reveal second quarter consolidated revenue of $204.6m (£156.4m) – down 2% year-on-year, with a consolidated gross profit margin of 26.2%, down 80 basis points year-on-year.

President and CEO William Grubbs hailed a good start to 2018, recovering from “headwinds” the group faced in Q4 2017: “We experienced a pull-back on spend from some of our larger customers in the second quarter. This pull-back offsets the growth from our new managed service programmes. 

“We are making adjustments to our business to address these challenges and believe the underlying market dynamics will allow us to get back to year-over-year growth.”

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