By NZPA
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Monday 15th July 2002 |
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Cadmus had expected to record earnings before interest, tax, depreciation and amortisation (ebitda) of $1.7 million. But developing new products, a notes issue, and the launch of an international marketing campaign had eaten into the firm's bottom line.
"Despite currently holding over $7 million worth of confirmed international orders, Cadmus clearly will not meet the ebitda forecast in its listing profile of $1.7 million for the year to June 2002," the company said in a statement.
Full details will be reported once the results are audited, Cadmus said.
"Although it is disappointing to miss the 2002 ebitda projection, our investment in new products has resulted in a substantial international order book," said Cadmus managing director, Ian Bailey.
"To date our international orders, combined with ongoing domestic sales, should increase revenue for the year ending June 2003 to over $11 million without taking into account any new orders or further commitments from present customers."
Cadmus' flagship product is the eftpos payment terminal.
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