Sluggish first half pushes Rakon to $3.96M loss

Wed, 14 Nov 2012

Nov. 15 (BusinessDesk) - Smartphone equipment maker Rakon saw its loss for the six months to Sept. 30 widen to $3.96 million, as revenues fell and operating expenses rose during a period of sluggish growth in major markets. The result is a blow-out from the $259,000 loss reported for the same six months last year, with revenues of $89.4 million down $5 million on the same period a year earlier, albeit a $6 million improvement on sales in the second half of the last financial year, the company said in a statement to the NZX. Rakon shares fell...

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