13 Nov 2014

Rakon makes first half year loss

2:02 pm on 13 November 2014

Rakon has made another first half year loss, though its significantly better than last year's result.

The manufacturer of crystal timing devices reported a near $3.4 million loss in the six months ended in September, compared with a loss of nearly $46 million in the same six-month period a year earlier.

Revenues for the first half were also down on the year earlier, by almost 24 percent, to $61.4 million.

Chief executive Brett Robinson said the result was in line with the company's expectations and he was still forecasting improved profitability in the second half of the year ending in March, particularly as the 4-G wireless technology continued to rollout around the world.

"The improved exchange rates (are) actually helping us for a change," he said.

The first half underlying profit was almost $4.3 million, the first time it had been in the black for the past three half-year periods.

The company expected that would rise to $10-$15 million for the full year.

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