QSC warns on profit, announces savings programme after weak Q2

FRANKFURT Mon Aug 11, 2014 2:04am EDT

FRANKFURT Aug 11 (Reuters) - German internet service company QSC toned down its 2014 sales and operating profit outlook on Monday and announced plans for a savings programme as it reported a bigger-than-expected decline in quarterly earnings.

The company said it now expected to reach only the low end of its 2014 forecast ranges for revenues of between 450 million and 470 million euros ($603-630 million), and earnings before interest, tax, depreciation and amortisation (EBITDA) of 60 million to 70 million euros.

In the second quarter, EBITDA dropped 45 percent to 10.5 million euros, falling short of a consensus of 13.5 million euros in a Reuters poll.

($1 = 0.7463 euro) (Reporting by Maria Sheahan; editing by David Clarke)