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BRIEF-Adacel Technologies revises FY2017 outlook
May 3, 2017 / 7:53 AM / 5 months ago

BRIEF-Adacel Technologies revises FY2017 outlook

May 3 (Reuters) - Adacel Technologies Ltd:

* Profit before tax for FY2017 is now anticipated to be in range of approximately $7.0-7.5 million

* Number of delayed contracts will impact fy2017 revenue from systems segment which will be approximately 35-40% below fy2016

* Co’s services segment is forecast to continue its steady growth trajectory in FY2017, and is expected to grow around 10% over fy2016

* Intends to conduct an on-market share buyback during period from 17 may 2017 to 16 may 2018

* Co maintains its optimism in relation to total orders for fy2017 being above fy2016 for both systems and services segments

* Revised earnings outlook due to longer than anticipated contract administration processes on number of notified awards Source text for Eikon: Further company coverage:

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