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QMASTOR lowers earnings guidance for FY10

QMASTOR lowers earnings guidance for FY10

Information management system provider QMASTOR (ASX:QML) has lowered its earnings guidance for FY10, as a result of a delay in two major contracts.

The company is now expecting revenue of between $7.3 million and $8.6 million, compared to its previous guidance of between $9 million and $10 million.

On the plus side, the revenue from the contracts will merely be pushed into FY10, and overall demand for QMASTOR's products is now back to pre-GFC levels, the company said.

Net profit is forecast to be in the range of $50,000 to $940,000.

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