Rakon turns to 1H profit, annual earnings likely to be flat

Wed, 18 Nov 2015

By Tina Morrison Nov. 19 (BusinessDesk) - Rakon, the high-tech components maker, turned to a first-half profit and reiterated that it expects to post flat full-year earnings. The Auckland-based company posted a profit of $1.08 million, or 0.6 cents a share, in the six months ended Sept. 30, from a loss of $3.34 million, or 1.7 cents, in the year earlier period, it said in a statement. Revenue slipped 5.5 percent to $58 million, while operating expenses declined 3.7 percent to $23.3 million following the closure of its Lincoln plant in the...

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