mmmmm...Brainytoys warns of $3.4m loss; tips turnaround13:14,...

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Brainytoys warns of $3.4m loss; tips turnaround
13:14, Friday, 8 August 2008

Sydney - Friday - August 8: (RWE Australian Business News) -
Brainytoys Ltd (ASX:BRT) today warned its result for the year ended June
30 would show a loss of about $3.4m, which included a high level of
non-recurring and other development costs.
The company expects "a strong turnaround in profitability" in
the December half as a consequence of the seasonal sales pattern and
expected sales outlook.
On February 19 the company said it expected to achieve sales of
about $20m for calendar year 2008.
Despite falling short of budgeted sales targets for the June
half ($4.85m against a budget of $6.05m), inventory/purchasing financial
challenges and "a significant level of industry turmoil", management
remains confident of achieving the $20m target for 2008 due to strong
order books and customer interest.