Chicago – Nearly three in four chief financial officers of U.S. technology companies expect revenue to increase in 2012, though at a much smaller rate than last year, according to a new survey by financial advisory and consulting firm BDO.
The CFOs surveyed foresee overall revenue growth of just 2.6 percent – sharply lower than the forecasted growth of 10.4 percent a year ago.
It marks the first time since 2009 that revenue projections have not exceeded the previous year’s.
“Based on recent economic and marketplace volatility, technology executives are cautious in their revenue projections,” said Aftab Jamil, partner and director of the Technology and Life Sciences practice at BDO USA. “That being said, M&A remains an attractive opportunity. The fiercely competitive environment is pushing companies to aggressively target the best and brightest technologies. Among middle-market tech companies, there’s an `acquire or be acquired’ mentality.”
This article was also published in Potomac Tech Wire.
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