TSV (ASX:TSV) warns of $9.6m intangibles writedown

TSV (ASX:TSV) warns of $9.6m intangibles writedown

Communications equipment supplier TSV Holdings (ASX:TSV) has revealed it will have to make a $9.6 million goodwill impairment on its intangible assets for the FY10 financial year.

The impairment will reduce the company's intangibles to $7.1 million, TSV said. But the company added it was maintaining its guidance of an audited ebitda of $1.1 million for the year.

The writedown was made due to a decrease in revenues and operating profit in its Tecsound and Calltech divisions, and the sustained increase in the Australian dollar.

TSV said it would release its preliminary full year results by August 31, and its audited results by the end of the following month.

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Tags TSV LimitedwritedownsASX:TSV

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