- Release Date: 20/12/12 13:55
- Summary: FORECAST: RAK: Rakon Market Update 20 December 2012
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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
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