Advanced parts maker Rakon profit and revenue plunges as it crashes to $10.4m loss

Rakon CEO Sinan Altug says the advanced parts maker has faced exceptionally tough challenges. (Image: Rakon)

Wed, 27 Nov 2024

Advanced parts maker Rakon’s profit and revenue plummeted for the six months to Sept 30 as it crashed to a $10.4 million loss. Rakon makes frequency control products and timing solutions for the telecommunications, space and defence industries. It said on Wednesday revenue had fallen to $41.7m from $61.3m in the prior comparable period, with telecommunications revenue slashed by 51% to $16.8m. Gross profit fell to $15.7m from $26.1m in the same half in the previous financial year. Full-year warningRakon warned i...

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