Rakon confident earnings will improve this year, chairman Mogridge says

Fri, 12 Sep 2014

By Tina Morrison Sept. 12 (BusinessDesk) - Rakon, which makes crystal oscillators used in navigation devices, reiterated that it expects earnings to turn around this year as it shutters factories and reduces staff to save money. The Auckland-based company is "confident" it will meet its previous forecast for underlying earnings before interest, tax, depreciation and amortisation of between $10 million to $15 million in the 2015 year, compared with an underlying Ebitda loss of $7.5 million in 2014, chairman Bryan Mogridge said in notes for...

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