Market reacts positively to Orchestream's losses

UK internet software firm Orchestream has reported an increase in both losses and revenues for the nine-month period to September.

Losses stand at £8.6m, compared to £3.7m in the same period of last year. Revenues, reported at £1.63m, are ahead of target. Orchestream also claimed to be on schedule to deliver on all of its objectives for the year and said it has had considerable customer activity for the fourth quarter. Orchestream floated on the London Stock Exchange in June of this year and has shown a great deal of promise, maintaining a share price above that of flotation until the recent battering of troubled high-tech stocks. Its share price is recovering from sinking back to its initial offer of 185p, registered last week, and currently stands above 250p. Orchestream boasts as customers Siemens, Energis and NTT.