Rakon shares climb as earnings beat guidance

Mon, 29 Jun 2020

Rakon shares rose 9.6 percent after the telecommunications component maker reported better than expected earnings and said the outlook, while murky, was generally positive.The company reported underlying earnings before interest, tax, depreciation and amortisation of $14.8 million in the 12 months ended March 31, beating its guidance for ebitda of $12 million to $14 million.While that was up 11 percent from a year earlier, changes to accounting standards shifted $3.1 million into depreciation. Net profit rose to $4 million from $3.4 m...

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