Rakon turns to annual loss as telcos pull back infrastructure spending

Wed, 18 May 2016

By Tina Morrison May 19 (BusinessDesk) - Rakon, the high-tech components manufacturer, turned to an annual loss after telecommunications companies pulled back infrastructure spending, hurting sales at its largest unit. The Auckland-based company posted a loss of $1.7 million, or 0.9 cents a share, in the 12 months ended March 31, from a profit of $3.2 million, or 1.6 cents, a year earlier, it said in a statement. Underlying earnings before interest, tax, depreciation and amortisation fell to $9 million, within its forecast $9 million-to-...

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