There’s bad news for shareholders of Teradata Corp., which has lost $265 million in Q2 2015 thanks to a $340 million “goodwill impairment charge” that sucked away its profits. Meanwhile the company’s bottom line isn’t being helped by longer sales cycles and the continued deferrals of large transactions, it said in a statement.

According to the company, Teradata’s second quarter revenues fell by 8 percent compared to the year before, to just $623 million. Net income also fell, with the company reporting a $265 million loss compared to $96 million in profits one year ago. The quarter represents Teradata’s first loss since it became a publicly traded company.

This poor performance comes after a disappointing 1st quarter, and while the goodwill impairment charge is a one-off, the company’s shareholders won’t be too pleased to see that revenues have declined for the second consecutive quarter.

The goodwill impairment relates to Teradata’s decision to create a new Marketing Applicants business unit that “provides leading solutions and services for digital marketing, marketing resource management, omni-channel marketing and marketing analytics.” Teradata decided to create the unit following its $20 million acquisition of Israeli push-messaging technology provider Appoxee in January of this year.

Teradata’s results suggests that customers are putting off larger purchases, and that worries CEO Mike Kohler, who issued the following cautious statement:

“We believe Teradata is positioned for constant currency growth in the second half of 2015. The integrated business units we created earlier this year – the Data and Analytics and Marketing Applications Divisions – are showing progress. With better aligned and focused end-to-end resources, we are rapidly advancing our growth initiatives and improving operating efficiencies.”

At first glance, Kohler sounds positive, but the phrase “constant currency growth” implies that Teradata might struggle to grow its profits if foreign currency conversions aren’t factored into the equation.

Nevertheless, Kohler said he remains “confident in our industry-leading solutions and competitive positions in the markets we serve, and [we] have a number of actions in progress to better position Teradata in 2016 and beyond.

“As always, we will continue to evaluate new initiatives that can benefit our business and enhance shareholder value,” Kohler concluded.

As for what those new initiates might mean, that’s anyone’s guess. It could indicate a restructuring, new businesses being formed, a sale of certain assets, or nothing at all.

Teradata’s forecast for the rest of the year doesn’t sound that great either. The company said it’s expecting lower revenues for the full year than initially projected, due to “continued deferrals of large transactions” and “longer sales cycles.” Teradata reckons its 2015 revenues will be down 3-6 percent on a reported basis, and up 0-3 percent on constant currency terms, compared to the year before.