ALC Chart, page-1632

I think they have already failed to deliver on expectations and that is why the share price is where it is. FY 17 revenue was lower than FY 16.

I attended another companies AGM this morning, PGC. There was some discussion there relevent to ALC. PGC has a software product for the health industry, but is is only a very small part of their business. There were some statements made by investors along the lines of "software R&D can be a big black hole for spending", reflecting the concerns about that activity. The board also described the very long and slow sales cycle in the medical industry, stating that the customers will take as long they take, and a supplier cant speed up the process.
The cyclical nature of the business was also discussed, the first few months of the financial year are very slow, and sales speed up during the year up until the end. This could help explain why there have been no new contracts announced by ALC recently.