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Techniche (ASX:TCN) halves FY10 guidance

Techniche (ASX:TCN) halves FY10 guidance

HREF="http://www.cfoworld.com.au/articles/tag/ASX:TCN/">(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.

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