Rakon turns to first-half loss as telco sector remains sluggish; shares drop

Wed, 16 Nov 2016

By Paul McBeth Nov. 17 (BusinessDesk) - Rakon, whose shareholders pushed sales director Darren Robinson from the board this year, posted a first-half loss, blaming a sluggish telecommunications network industry for lacklustre sales. The Auckland-based company posted a net loss of $5.7 million, or 2.9 cents per share, in the six months ended Sept. 30, from a profit of $1.1 million, or 0.6 cents, a year earlier, it said in a statement. Revenue slumped 21 percent to $46 million, and underlying earnings before interest, tax, depreciation and...

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