Storage outfit Proact saw a 13 percent fall in quarterly revenues after it brought in a new accounting standard.
Proact has changed the way it recognises revenues from supplier guarantees and maintenance and now spreads the revenues and costs over three years.
The move left an £8 million ding in its Q1 revenues. Its revenues for the three months from January to March 2018 tumbled by 13 percent year on year.
It did improve the costs of goods and services Proact sold during the quarter with pre-tax profit rising by four percent.
Proact is currently seeking a new CEO, following the resignation of Jason Clark in February. The company claims to manage over 100 petabytes of information in the cloud and have 3,500 customers.
