Aviation control system developer Adacel Technologies (ASX:ADA) has warned that forex losses have likely forced the company to swing into the red for 1H10.
The company now expects to report a net loss of $1.5 million, compared to a $3.6 million profit for 1H09.
The net effect of foreign currency conversions for the half-year was a $1 million loss. This compare to 1H09 forex gains of $2.4 million.
A delay in receiving a number of orders and one-off costs accrued while establishing new markets in Europe also contributed.