Riversoft bounces back, but not as far as it fell

NEWS Riversoft shares were on the rebound this morning after yesterday's earnings warning prompted a 25 per cent drop. Share value dropped by a quarter early yesterday after Riversoft warned that "a sudden and severe deterioration" in orders would affect second quarter earnings. Shares were back up 4.35 per cent to 36p this morning. Revenue for the quarter ending 30 June is now expected to be £1.2m, down from a forecast of £3.6m and first quarter revenue of £2.6m. Loss for the quarter is expected to be £11.6m, up from a first quarter loss of £8.4m.