Ubisense (LON:UBI) fell 13.12% this morning after a trading update announced that revenue for the first half of 2015 will be below that of 2014.

The company cite the previously announced loss of two major contracts, and further delays in the completion of other contracts due to be signed this year.

Ubisense is a market leader in enterprise location intelligence solutions, helping manufacturing, communications and utility companies improve operational efficiency and boost profitability.