ann out, page-9

re: ann out-less than expected? Phil, you also need to consider the options in the calc, don't know how many. Also they disappointed by people thinking that 5 mill in 2 months would be at least 12m over the year (30 mill for those niave). Being a tech company there are also no guarantees - ie how are the contracts structured - time and materials or fixed price. If fixed price then what looks like a profit initially can turn into a loss - been there and seen that. Not saying it will happen here but been around enough tech companies in working life to know project promises and expectations of users and delivery deadlines and costs often don't come in as expected to the initial project plan put together at the start of a project.

Tech people have a habit of not learning from past under estimations of time to do work and costs - too optimistic when they want to win work over competing bidders and then reality sets in. Not saying this will happen here but just something to be aware of. Do your own research and arrive at own conclusions.