Appears company is going to lose around $300k for the quarter. As for China's competitive manufacturing edge, Lumacom just closed down the factory they bought only 1 year ago. Also, as always, the Americans are skeptical about anything made in China. They have suspended their $40mill Campus Media project. Their Dubai contract has been cut short. So from the announcement, what do we really have?
1000 benches for bus stops at $418 each (current exchange rate is 88.5c, not 84c as used in the ann.). Revenue of around $500k for the quarter. Nothing else knew in the announcement other than getting rid of staff due to not enough work for them obviously.
I'm disappointed, but will hang on for longer.
Didn't Lumacom have a manufacturing arm in England?
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