Scantech shares fall 18% on news of pre-tax loss

Scantech shares fall 18% on news of pre-tax loss

Shares in technology company Scantech (ASX:SCD) have fallen 18.2% since the company warned it it was expecting to post a pre-tax loss for 1H10.

The company, which develops analysis technology for the mining industry, yesterday announced an unaudited pre-tax loss of $548,877, compared to a $922,923 profit in the same period last year.

Sales fell 25% to $5.1 million, and orders on hand decreased the same percentage to $6.4 million.

SCD shares fell 6.5% yesterday and a further 12.5% today, and are currently trading at $0.31.

The company will announce its audited results on February 26.

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Tags analysis ICT Scantech

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