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- Release Date: 20/12/12 13:55
- Summary: FORECAST: RAK: Rakon Market Update 20 December 2012
- Price Sensitive: No
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RAK
20/12/2012 11:55
FORECAST
REL: 1155 HRS Rakon Limited
FORECAST: RAK: Rakon Market Update 20 December 2012
RAKON MARKET UPDATE
20 December 2012 (RAK)
Rakon advises the market that due to a delayed sales programme in the High
Reliability and Smart Wireless Device segments of its business, plus a
forecast decline in margin from some consumer products, it now expects its
market guidance for the fiscal year ending March 31st 2013 to be an EBITDA
range of $8m to $12m; compared to the range of EBITDA $14m-$16m provided to
the market on 24 August 2012.
Rakon has actions in place for permanent cost reductions which have been
previously signalled to the market. These actions will save $10m per year and
we remain on track for 70% of the planned changes to be in place as at 1st
April 2013. -ends-
Contact:
Brent Robinson
Rakon (09) 571 9202
www.rakon.com
End CA:00231461 For:RAK Type:FORECAST Time:2012-12-20 11:55:36
