Ann: Profit Warning 2013 , page-11

NPAT for 2012 was S$7.84 mil.

Their mid-range estimate for this year is S$ 6.45 mil. Adding back the S$2.0 mil, which lets face it is just a timing issue caused by the customer's delay, and we're sitting on S$8.45 mil, more that 2012. If you consider that the other profit hits were caused by the hedge loss and extended losses in the startups, it suggests that underlying operations are looking a lot better than last year IMO.

Also excellent to see sales in the start-ups kick off, especially the S$10.0 (in principle) thermal bonder sale. Hopefully more sales soon.

IMO huge overreaction from the market today considering, what I thought to be, a pretty positive announcement; just have to look past the title "profit warning". Still, when has the market ever been rational?