SQS’s H1 results (to 30 June) showed good growth YoY in most areas, but also some difficulties within the Regular Testing Services unit, leading to expectations now “slightly below” the Board’s previous expectations for the full year. We cut our 2015 full-year revenue estimate by c.5% and adj. EPS by c.17%. This report provides additional detail and comment on the results and the software testing market; we believe the market has over-reacted to the news. We reiterate
