CORRECTED - CORRECTED-UPDATE 1-Akers Biosciences sees FY substantially below

(Corrects to show the company is based in the United States, not Britain)

* Says hurt by lack of government contract for BreathScan

* Remains cautiously optimistic about future contracts

* Says time inadequate to meet volumes in case of new deal

* Shares fall as much as 18 pct (Adds details)

Nov 4 (Reuters) - Akers Biosciences Inc (AKR.L: Quote, Profile, Research) warned its 2009 results would be "substantially" below market expectations, hurt by lack of U.S. government contracts for its BreathScan products, sending the diagnostic test kits maker's shares down as much as 18 percent.

BreathScan, the U.S.-based company's disposable breath alcohol detectors, which account for about 31 percent of its full-year revenue, is used by various departments of the U.S. Department of Defense.

"Although such orders may arrive, there would now be inadequate time to manufacture sufficient volumes to meet market expectations for FY2009," Akers Biosciences said.

Shares of the company were down 15 percent at 14.25 pence at 0932 GMT on Wednesday on the London Stock Exchange. They touched a low of 13.75 pence earlier in the session. (Reporting by Aditi Samajpati in Bangalore; Editing by Maju Samuel)