Techniche (ASX:TCN) halves FY10 guidance

Techniche (ASX:TCN) halves FY10 guidance

HREF="">(ASX:TCN) has slashed its FY10 earnings forecast in half due to project delays and product development write-offs.

The company is now expecting earnings of between $200,000 and $300,000, compared to its previous forecast of $450,000 to $600,000.

Delays in some key orders - as well as in settling the acquisition of Urgent Technology - were among the causes of the expected decline, Techniche said in a market update.

Despite the expected decline, Techniche is maintaining its FY11 forecast of $2 million in net profit, as a result of a full year's contribution from the Urgent unit.

TCN shares are today trading unchanged at $0.040.

Join the CIO Australia group on LinkedIn. The group is open to CIOs, IT Directors, COOs, CTOs and senior IT managers.

Join the newsletter!


Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags ASX:TCN Guidance Techniche

Show Comments