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.