is this stock under-valued?, page-13

On the 16th August Presentation, they gave a brief summary of what was forcasted for 2010/11. Their words "Third sucessive year of profitable growth". Page 33 of presentation.

Now they come out, just over 1 month later, and say profit will be 20-25% less for FY2011??????

What happened over the last month? Is this right? Or are you correct in saying this could be a revenue recognition issue??

Stock has been smashed 25% in 3 days. Maybe value exists now?

I have taken a small stake at 61cents for a possible bounce on some sort of clarity.

Is there anywhere I can find a transcript of the MD's speech? What did he say about the outlook?