Dear [name]:
I'm writing to apologize for the delay in [description of project]. We had a problem with [description of problem]. We are currently working on the problem and expect to have it resolved by [date].
If you need further information, do not hesitate to contact me at [telephone number].
Once again, I apologize for the delay.
Sincerely,
[name]
[title]
[company name]
[telephone number]